Economic Expert: Why Gold Will Climb To $15,000

Michael Howell argues gold’s next leg higher may be driven less by the Fed and more by China, with Chinese liquidity injections already helping support the metal. He says the U.S. dollar is still in an uptrend, but Beijing may be using gold as part of a broader effort to bolster confidence in the yuan, creating a structural tailwind for bullion. Howell’s key focus is on yuan-denominated gold levels, which he says he is watching closely as a gauge of local demand and relative value. He also frames the long-term case for gold around monetary debasement, suggesting that continued balance-sheet/liquidity expansion could lift the metal substantially over the coming years, with one cited upside scenario of $15,000/oz. For trading, the near-term takeaway is that the argument is fundamentally bullish for gold if Chinese liquidity remains supportive and yuan confidence weakens further, even if a firm dollar caps upside in USD terms. The main risk is that this is a macro-theory piece rather than a flow/positioning update; the $15,000 target should be treated as a long-duration valuation call rather than a tactical price forecast.