Gold Prices Can Reach $10,000 If US National Debt Is Not Fixed: Analyst

Gold prices have been the talk of the town since 2022, after the US imposed sanctions on Russia. In the last five years, the XAU/USD index went from $1,500 to $4,600, recording an impressive rally. The price still remains bullish despite the robust performance and is now looking to climb above the $5,000 mark. Though it entered multiple correction phases over the years, it quickly bounced back, reclaiming lost territory.

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Why US National Debt Can Help Gold Prices Surge

On the heels of the bullish momentum, a bearish stance has hit the market, and it is the $40 trillion US National debt. John LaForge, Chief Alternative Strategist at Ned Davis Research, said to KitcoNews that if the US National debt is not brought under control, gold prices will find room to surge beyond the $10,000 mark. He even went ahead and claimed that the XAU/USD index could hit a high of $12,000. He stressed that this could be a reality if the government fails to control the increasing debt.

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