J.P. Morgan: Due to the asset selloff triggered by Trump, the price of gold may reach $6000 by 2029.

Morgan Stanley analysts said that even if only 0.5% of the US assets held by foreign investors were reallocated to gold, the price of gold could reach astronomical heights by the end of this decade. They proposed a scenario in which the price of gold would reach $6,000 per ounce by 2029, an 80% increase from the current price of around $3,300. This is because the supply of gold has not increased significantly, meaning that a relatively small increase in demand can cause a significant fluctuation in the price of gold. Morgan Stanley stated, "Recent trends in the financial markets show that investors' interest and trust in US assets have been questioned, making the US vulnerable to capital outflows." According to Morgan Stanley's calculations, if 0.5% of the US assets held by foreign investors were reallocated to gold, a total of $273.6 billion would be invested in gold over four years, equivalent to about 2,500 tons of gold. Although this may not seem like much, accounting for only 3% of the total gold holdings, the "additional quarterly demand impulse is quite significant."