‘Dr. Doom’ Nouriel Roubini says gold will rise to $3,000 by 2028

In a recent interview, New York University professor Nouriel Roubini said that the current crisis will force investors to rush into gold. The value of the yellow precious metal will rise to $3,000 by 2028. The American economist expects an annual growth of 10% for five years with a total return of 60%.

Roubini was nicknamed ‘Doctor Doom’ for his gloomy economic forecasts. For instance, in 2008 the famous economist predicted the crash of the stock markets —  a few months before the financial system actually collapsed. Dr. Doom warns about imminent stagflationary depression in 2023 that will lead to a decline in stocks and bonds. The economist makes his bets on a strengthening position of gold compared to the other markets, as the precious metal will be a good heaven-asset amid inflation and financial instability.

Roubini also gave comments on the current monetary policy situation in the U.S. To suppress rising inflation, the expert recommended raising interest rates to at least 6%. In this case, the Fed could face a severe recession and debt collapse. 

All of these factors make up a quite optimistic forecast for gold.