Gold Price to Rise Tenfold Inevitably, Thomas Kaplan Predicts

Electrum chairman Thomas Kaplan stated that gold is inevitably set to rise tenfold, reaching $30,000 to $50,000 per ounce. He described the current correction as a "1987 moment," akin to Black Monday, representing the best buying opportunity in the bull market. Kaplan offered no timeframe but stressed that gold and silver will multiply in value over the medium term. With prices near $4,515 an ounce, a tenfold gain aligns with his outlook. He warned governments may seize profitable mines during downturns, prompting his focus on projects in Alaska, Idaho, and Mexico. In 2007, Kaplan sold Leor Energy for $2.55 billion and shifted capital into precious metals.