Jim Rickards predicts: gold to $10,000, silver to $200

Precious metals have had a strong year, but according to economist Jim Rickards this is just the beginning. He predicts gold and silver will rise well into 2026, with price targets at historic highs. What does he think is the basis for this extreme prognosis?

Rickards sees the prices of gold and silver rising sharply in the coming years. In a recent interview, he said: “I wouldn’t be surprised at all if gold is at $10,000 by the end of 2026. Silver will follow suit and touch $200 an ounce.”

This statement comes at a time when precious metals are already performing strongly. Gold is currently around $4,479 per ounce and even reached a record of $4,520 on December 24. Since the beginning of this year, the gold price has risen by approximately 71 percent.

Silver also recently broke through its all-time high. Last Wednesday the price peaked at almost $73, an increase of about 147 percent since January.

If gold actually rises to $10,000, that would mean a further increase of about 123 percent. For silver, a rate of $200 equates to an additional increase of approximately 182 percent.

Central banks and geopolitics drive demand

According to Rickards, this precious metals rally is driven by structural demand and geopolitical uncertainty. Central banks worldwide are buying gold en masse, while the supply remains limited. China alone is said to have purchased approximately 254 tons. At the same time, confidence in government bonds and the US dollar is declining.

According to Rickards, a turning point was the freezing of Russian reserves by Western countries. “If you’re Saudi Arabia or Japan and you own a lot of US bonds, you think twice.” He points out that gold is a physical asset that cannot simply be seized.

Large institutional parties, such as pension funds and sovereign wealth funds, are also increasingly turning to gold as a safe haven. This inflow increases upward pressure on the price.

Silver also benefits, although Rickards mainly calls it “piggybacking on gold”. He points out a skewed relationship: there is an estimated hundred times more paper than physical silver available. If physical delivery is required, prices can rise explosively.

What does this mean for Bitcoin?

The gold rally underlines that the precious metal is still seen as a strategic reserve and safe haven. Bitcoin (BTC), often positioned as the digital alternative, is still lagging behind. The price is currently about thirty percent lower than the peak in October.

However, according to analyst Crypto Aman, it does not have to remain that way. He points out that in the past, crypto often moved in the same direction as gold with some delay.