Gold’s ‘golden decade’ enters next phase with new $8,900 target - In Gold We Trust Report

Kitco05-21 18:40

(Kitco News) - Through its unprecedented rally at the start of the year, followed by extreme volatility and now its current consolidation period, gold is doing exactly what it’s supposed to do as the ...

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In Gold We Trust Report\n</h2>\n\n<h4 class=\"meta\">\n\n\n2026-05-21 18:40 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.kitco.com/news/article/2026-05-21/golds-golden-decade-enters-next-phase-new-8900-target-gold-we-trust-report><strong>Kitco</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>(Kitco News) - Through its unprecedented rally at the start of the year, followed by extreme volatility and now its current consolidation period, gold is doing exactly what it’s supposed to do as the ...</p>\n\n<a href=\"https://www.kitco.com/news/article/2026-05-21/golds-golden-decade-enters-next-phase-new-8900-target-gold-we-trust-report\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"DBC","symbol_name":"商品指数ETF-PowerShares DB","start_time":0,"source_url":"https://www.kitco.com/news/article/2026-05-21/golds-golden-decade-enters-next-phase-new-8900-target-gold-we-trust-report","article_id":"2637595473","we_media_id":null,"thumbnails":[],"rights":{"source":"kitco_highlight","url":"https://www.kitco.com/news/article/2026-05-21/golds-golden-decade-enters-next-phase-new-8900-target-gold-we-trust-report","rn_cache_url":null,"directOrigin":true},"url":"https://stock-news.laohu8.com/highlight/detail?id=2637595473","pubTimestamp":1779360000,"columns":[],"sourceInfo":{"source_id":"kitco_highlight","name":"Kitco"},"weMediaInfo":null,"summary":"(Kitco News) - 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Through its unprecedented rally at the start of the year, followed by extreme volatility and now its current consolidation period, gold is doing exactly what it’s supposed to do as the precious metal continues to assert its role as a key monetary asset within the global economy, according to Incrementum AG’s annual In Gold We Trust report.In the 20th anniversary edition of the comprehensive report, titled Back to the Monetary Future, lead authors Ronald-Peter Stöferle and Mark Valek explained that gold’s historic rally is not a speculative anomaly but part of a broader remonetization trend driven by geopolitical fragmentation, de-dollarization, inflation volatility, and mounting distrust in fiat currencies.“The future of money lies in its past,” the authors wrote, describing gold as an increasingly important monetary anchor as the post-1971 fiat system shows “unmistakable signs of fatigue.”The report noted that gold reached a record high of $5,595 an ounce in January 2026 after posting a 64.4% gain in 2025 — its strongest annual performance since 1979.The analysts also noted that both gold and the In Gold We Trust report have come a long way over the last 20 years. The inaugural report was only 20 pages long, and gold prices were around $670 an ounce. This year’s report exceeds 400 pages, while gold prices have rallied more than 600%.Despite the metal’s dramatic rise, the authors argued that the secular bull market remains far from over.“The Golden Decade proclaimed in the In Gold We Trust report 2020 is in full swing,” the report said. “Since then, the price of gold has risen by 165% in U.S. dollars.”The analysts said the market is in the middle of its public participation phase, which they described as “the longest and most dynamic stage of a bull market.” With the market supported by robust long-term fundamentals, the fund managers at Incrementum AG revised their long-term price outlook.“Our decade target of USD 4,800 by 2030, as outlined in our 2020 In Gold We Trust report, has already been a reality in 2026,” the authors wrote. “We are now turning our attention to the inflationary alternative scenario: USD 8,900 by the end of the decade.”The report added that if current remonetization dynamics accelerate further, “significantly higher gold prices” could eventually emerge.Incrementum’s bullish outlook is based on its view that gold is increasingly being treated not merely as a commodity or safe-haven trade, but as a neutral reserve asset within a rapidly changing global monetary order.“The Pax Americana — that political, military, economic, and above all monetary order that has shaped the global system since 1945 — is drawing to a close,” the report said.The authors pointed to surging central bank demand as one of the clearest signals of this transition. Central banks bought 863 tonnes of gold in 2025 following three consecutive years of purchases exceeding 1,000 tonnes annually.The report also highlighted growing discussions around formally revaluing U.S. gold reserves, which are still officially priced at $42.22 an ounce on Treasury books despite market prices hovering near $4,600.“A revaluation of the U.S. gold reserves is no longer a far-fetched speculation, but a political possibility that is quietly gaining plausibility,” the authors said.At the same time, Incrementum argued that gold remains significantly underowned relative to the broader financial system. The report estimated that privately held gold accounts for just 2.7% of global financial assets, suggesting institutional participation in the current bull market remains limited.“Gold is anything but a crowded trade — on the contrary, it is a party where the first guests are just starting to arrive,” the analysts said.The analysts said that in this next phase of the gold market, demand is expected to shift from central banks to investors. The report warned that rising sovereign debt remains one of the strongest long-term drivers supporting gold prices, noting that global debt climbed to a record $348 trillion at the end of 2025 while U.S. debt surpassed $39 trillion earlier this year.They added that in this environment, the traditional role of government bonds as a “risk-free asset” is rapidly deteriorating as inflation-adjusted returns remain deeply negative, forcing investors to seek alternative stores of value.Although gold’s long-term trend is being built on a solid foundation, Incrementum cautioned investors that the path higher will likely remain volatile.“Gold should take a breather in the short term, trend higher in the medium term, and be back at the center of the monetary system in the long term. Through early summer, we expect a volatile sideways movement in the range of USD 4,500–4,950,” the analysts said.At the same time, following gold’s sharp correction earlier this year, the report warned that higher bond yields, liquidity stress, and broader market volatility could continue to generate short-term pullbacks. However, the authors added that they see any pullback as a buying opportunity.","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"0","news_tag":"","news_rank":0,"isVideo":false,"video":null,"symbols":[],"gpt_button":0,"need_auth":false,"need_login_tip":false,"code":"91000000","status":"200"},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"tenantId":"TBGLOBAL","deviceId":"web-server-community-laohu8-v3","version":"4.42.2","shortVersion":"4.42.2","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2637595473","isCrawlerRequest":true}