Gold could soar 80% to $6,000 if there’s even a minuscule shift away from US assets

Analysts at JPMorgan estimated that the price of gold could reach $6,000 per ounce by 2029, up from about $3,300 now, if just 0.5% of U.S. assets held by foreign investors is reallocated to the precious metal. Gold has been on a tear in recent years and picked up even more momentum after President Donald Trump launched his trade war.

The price of gold has been on a tear in recent years and could reach astronomical heights by the end of the decade if foreign investors shift away slightly from the U.S., according to analysts at JPMorgan. In a note on Wednesday, they laid out a scenario where gold would hit $6,000 per ounce by 2029, an 80% jump from the current price of about $3,300. If just 0.5% of foreign-held U.S. assets are reallocated to gold, that would result in 18% annual returns and eventually send prices to $6,000, JPMorgan estimated.