How High Will Prices Go During the "Trump Gold Rush"?

In October, 2023, I made what at the time seemed like a "bold" prediction. Gold spot prices had flirted with $2,000 per ounce but had dropped back into the $1,800s. Some analysts were calling $2,000 an ounce something in the distant future, so I countered with a post titled, "Gold Will Hit $2,000... Then it Will Hit $3,000 by 2026."

Technically, I was right. It shot right past $3,000 less than two months after President Trump took office and is now likely to break $4,000 before the end of the year. My prediction, bold at the time, underestimated gold's popularity by about a year.

Fast-forward to today and the same questions that were being asked when gold was nearing $2,000 are being asked now. Its price has doubled in two years and most indicators point to a continued upward trend. Why? Because we are in the middle of a perfect storm for physical precious metals.

We are in the middle of the "Trump Gold Rush."

Interest rates are going down, as President Trump wants. The US dollar is weakening, as President Trump wants. Tariffs, investments into American manufacturing, and domestic energy policies are driving up gold prices, just as President Trump wants.

Other investment types aren't fairing as well. Treasuries are losing efficacy. The Dow is up a mere 5% since Inauguration Day. Even Bitcoin, which President Trump loves, is up under 10% since Inauguration Day. Gold is up nearly 40% in the same period.

Add in dedollarization, global conflicts, government shutdowns, the declining US dollar, national debt, and inflation, and it's clear why everyone from low-end investors to central banks are buying up gold.

This is why it's skyrocketing, but is there an end in sight? Will gold's run come to a screeching halt?

While there is a good chance that gold will experience a correction or two in the months and years to come, many economists are jumping on board with the notion that there is no real cap to this finite asset.

Devlyn Steele from Augusta Precious Metals made a bold prediction himself, one far bolder than mine. On today's episode of Patriot TV Premieres, we hear where Steele believes gold is heading and why it may behoove retirement investors to make the move to a gold IRA immediately.

Connect with the one company Money.com awarded "Best Overall" for the last four years: https://patriot.tv/gold