In the face of strong gold, the bulls believe that it will only be a matter of time before the gold price hits a record high.

　　Since the beginning of the year, the price of gold has risen by more than 12%, far outpacing major global stock indexes. As the price of gold continues to rise, can gold still be bought?

　　On May 29th, affected by the weakening of the US dollar and the market’s concerns about the deterioration of the geopolitical situation, gold futures recorded their biggest gains in two weeks and recorded their third consecutive month of gains; silver futures rose nearly 24% this month. The biggest monthly increase in more than nine years; spot gold once rose more than 1%, refreshing its highest point in the past week to US$1,737.89 per ounce.

　　Asset management agency Incrementum AG recently issued a research report saying that the price of gold may be close to $5,000 per ounce within ten years, and this is still a conservative estimate.

　　The report pointed out that whether the future gold price will reach $5,000 or $9,000 will depend on the global debt situation and inflation. By the end of the third decade of the 21st century, the price of gold will still reach US$4,800 per ounce. If the growth of the money supply develops in a manner similar to inflation in the 1970s, then by 2030, the price of gold will reach $8,900.

　　Like the asset management agency Incrementum AG, Wall Street is currently optimistic about the outlook for gold. Citibank said that with the global transition from low interest rates to negative interest rates, they are optimistic about the medium-term performance of gold and expect investor demand for gold to remain strong.

　　At the same time, Deutsche Bank also said that in the medium and long term, driven by the continuous release of liquidity by global central banks, gold prices are far from seeing a big peak, and the bull market pattern will continue at least for the foreseeable future.