Egon von Greyerz, founder of Matterhorn Asset Management and Gold Switzerland, has suggested that gold prices could skyrocket to unprecedented levels, potentially reaching $16,000 per ounce if it returns to historical average levels relative to U.S.

treasuries. Drawing comparisons to the 1979-80 period, von Greyerz speculates that gold might even surge to $40,000 per ounce, driven by increasing purchases from BRICS countries and central banks shifting reserves from U.S. treasuries to gold.

He emphasises gold's role as a crucial hedge against economic instability and advises investors to consider it as financial life insurance.

However, these projections hinge on economic conditions and historical precedents rather than definitive forecasts.