Catalyst Funds' Miller Sees Gold at $5,000 in 2 Years as Deficits Erode Bonds
Updated
Updated · Kitco NEWS · Aug 10
Catalyst Funds' Miller Sees Gold at $5,000 in 2 Years as Deficits Erode Bonds
1 articles · Updated · Kitco NEWS · Aug 10
Summary
$5,000 an ounce is achievable within two to two-and-a-half years, David Miller said, after gold's nearly $300 breakout rally revived momentum even as prices may need time to digest the move.
Persistent U.S. deficits, inflation and central-bank diversification are the main drivers, he said, arguing they weaken the appeal of fixed-income assets and keep a structural bid under gold.
China should remain a significant long-term buyer, Miller said, while sovereign institutions still want less exposure to dollar-denominated reserves despite some easing in tariff-related pressure.
Mid-to-high single-digit gains this year are still possible, he said, especially if inflation stays around 3% and bond yields fail to deliver positive real returns after taxes.
That backdrop underpins Miller's broader case for real assets over traditional bonds and the strategy behind Catalyst-linked ETF GOLY, which pairs gold exposure with income from investment-grade corporate bonds.
As gold targets $5,000, how are savvy investors extracting high yields from a traditional safe-haven asset that historically pays zero interest?
With central banks hoarding gold at record rates in 2026, what hidden global fears are driving this massive retreat from fiat currency?
If an AI-driven productivity boom suddenly strengthens fiat currencies, could the ultimate safe-haven asset face an unexpected and catastrophic collapse?