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Gold Frenzy Accelerates: Peter Schiff Says $3,000 Is in Sight Amid Dollar Doubts
Momentum in the gold market has captured attention as prices surge toward the psychologically significant $3,000 mark. Major financial institutions are now aligning their forecasts around this milestone, with Goldman Sachs predicting gold will reach $3,000 by mid-2026 and J.P. Morgan expecting similar levels in 2025 with an average price of $2,950.
Wall Street’s gold rush: Major banks now targeting the $3,000 milestone as momentum builds.
The bullish sentiment reflects multiple converging factors that traditionally drive investors toward the precious metal. Central banks worldwide continue their aggressive gold accumulation strategy, while consumer demand from India and China remains robust. These traditional buyers aren’t just window shopping – they’re actively stacking gold like it’s going out of style. Central bank purchases have surged to an average of 38 tonnes monthly, more than double their pre-crisis levels.
HSBC recently joined the party by raising its 2025 gold forecast to $3,015, citing global uncertainty and shifting interest rate expectations. Macquarie also expects prices to spike above $3,000, while Citi Research provides a wider range of $2,700 to $3,200 for 2025. This diversity in forecasts shows that while everyone agrees gold is heading up, nobody wants to bet the farm on exact numbers.
Several economic headwinds are creating tailwinds for gold. Growing fiscal deficits worldwide make fiat currencies look about as stable as a house of cards in a windstorm. Geopolitical tensions continue simmering, sending investors searching for safe havens faster than you can say “risk-off.”
Meanwhile, anticipated interest rate cuts could further boost gold’s appeal as yields on traditional investments decline. The dollar’s strength remains a wildcard in this equation. A resilient greenback typically pressures gold prices, but current market dynamics suggest investors are hedging their bets.
Some analysts note that ETF demand hasn’t matched physical buying enthusiasm, potentially limiting explosive price growth. Historical context adds weight to these predictions. Gold has already flirted with $3,000 in recent trading sessions, proving the level isn’t just theoretical. The rapid climb from $2,500 to $3,000 in just 210 days represents the fastest $500 increment in gold’s history.
As economic uncertainty persists and central banks maintain their buying spree, the path to $3,000 appears less like speculation and more like a matter of timing. For those doing their own research, the consensus seems clear: gold’s golden hour may be approaching.
