**Jim Rickards bullish on the precious metals market: Gold surpassing $10,000 and silver reaching $200 is not a dream**

Renowned economist and author of *Currency Wars* Jim Rickards recently made a bold prediction — by 2026, it is not impossible for gold prices to break through $10,000 and silver to climb to $200. There is deep logical support behind this view.

**Central bank and supply imbalance, the old driving forces remain**

Where does the foundation of the precious metals bull market come from? Jim Rickards points out that traditional factors remain strong. On one hand, global central banks' demand for gold continues to be vigorous — countries are increasing gold reserves to strengthen financial security; on the other hand, gold mining faces long-term bottlenecks, with slow growth in new supply. The natural constraints on supply mean that even small increases in demand could push prices higher. This logic will still be valid in 2026, forming a solid basis for supporting gold's upward trend.

**Institutional capital inflows, new momentum accelerating price increases**

In addition to traditional buyers like central banks, Jim Rickards emphasizes that institutional investors are becoming new drivers of prices. Sovereign wealth funds, pension funds, endowment funds, and other large-capital investors are increasing their allocations to precious metals — partly for diversification, and partly as a rational response to risk. The influx of institutional buying is expected to push precious metal prices to new heights.

**Geopolitical risks intensify, gold becomes a "safe haven"**

More noteworthy is the involvement of geopolitical factors. In recent months, asset competition among major powers has become increasingly fierce — some countries are even attempting to freeze or seize assets of other nations. This uncertainty is prompting multiple countries to actively increase their gold holdings as a strategy to hedge against potential asset risks. Gold’s neutral attribute makes it the optimal choice to bypass geopolitical disputes, which is driving global demand for gold upward.

Combining these three factors, Jim Rickards’ prediction logic is clear: the target prices of $10,000 for gold and $200 for silver are not wishful thinking but are based on stable central bank demand, inflows of institutional capital, and escalating geopolitical risks. The precious metals market in 2026 warrants ongoing attention.