The price of gold could rise to $3,500 by the end of 2025

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The price of gold could rise to $3,500 an ounce by the end of 2025 if inflation starts to rise, the publication reports Business Insiderciting Yardeni Research President Ed Yardeni’s prediction.

The expert explains that the situation in the gold market may repeat the scenario of the 1970s, when prices began to spiral and the precious metal rose from $35 to an all-time high of $665 per ounce.

“The price of gold has soared to a new high. Another spiral in wage prices associated with rising oil prices will be very reminiscent of the Great Inflation of the 1970s, when the price of gold skyrocketed. In this scenario, the price of gold by 2025 could be $3,000-$3,500 per ounce, which is a realistic target,” Yardeni stressed in a note to clients.

Gold prices continued to rise on April 8 and hit a new all-time high for the 14th time since the beginning of the year. In the morning hours of Monday, prices hit a new high of $2,353.79 a troy ounce, up from around $2,000 an ounce in mid-February.