Analyst sets date when gold will hit $10,000

As gold continues to shatter all-time highs and silver pushes toward the $70 level, legendary monetary expert Jim Rickards says the next phase of the precious metals rally could be far more explosive than many investors expect.

Speaking to Daniella Cambone on ITM Trading on December 22, Rickards said structural imbalances between paper and physical metals markets are creating the conditions for a powerful move higher, particularly if investors begin demanding physical delivery. Rickards’ comments come as investors search for a credible gold price prediction for 2026 amid rising concerns over inflation and currency debasement.

However, Rickards warned that dynamic changes the moment physical demand increases. “The minute some segment of the market says, ‘You know what, give me the silver. I want physical delivery,’ all of a sudden the commodities exchanges and the custodians are saying, ‘Wait, we don’t have that much silver.’”

According to Rickards, that imbalance creates the conditions for a scramble in physical markets that paper markets cannot match. “You can never keep up with the paper side. It’s way too big,” he said. “So then you get into the dynamics of a short squeeze. That’s what’s driving it.”

From $5,000 gold to $10,000

Rickards said he has long forecast higher prices for gold, previously projecting a move to $5,000 per ounce by the end of 2026. However, recent price action has forced him to reconsider even that target.

Rickards noted that once gold crosses certain psychological thresholds, price moves can accelerate rapidly due to basic mathematics rather than speculation.

Why the move could accelerate

The monetary expert has previously warned that sustained monetary expansion and rising sovereign debt could accelerate demand for hard assets such as gold and silver.

He reiterated that once gold decisively clears the $4,000 level, upside constraints begin to disappear. “Once we hit $4,000 gold, the sky’s the limit,” he said.

With central banks continuing to accumulate gold and concerns mounting around currency debasement, Rickards believes the structural case for precious metals remains intact. While his written forecasts remain conservative, his latest comments suggest that gold’s next leg higher may arrive faster than many expect.