Renowned economist Jim Rickards recently made a bold prediction—gold could surge to $10,000 per ounce by 2026, while silver might reach $200. This is not sensationalism; there is a deep logical backing behind it.

What is the current market situation? Spot silver has already broken through $73 per ounce, hitting a new all-time high. The gold-silver ratio has fallen over 32% this year, returning to its lowest level since February 2014.

Why is this happening? Jim believes that long-term driving factors are still at play—central banks continue to buy, and supply-side responses are relatively lagging. More importantly, the demand from sovereign wealth funds and various institutional investors is rising.

Here's an interesting logic: Suppose you are a country like Saudi Arabia, Japan, or Brazil, holding大量美债 (a large amount of US debt), and suddenly think—what if the US, due to certain policy disagreements, becomes dissatisfied with me? The best option would be to diversify investments into gold. This geopolitical consideration is driving a global trend toward gold allocation.

Jim states very directly: "By the end of 2026, it wouldn't be surprising to see gold prices break $10,000; we will see that happen. Silver will also rise, and at that time, silver prices will target $200."

From an asset allocation perspective, gold and silver are becoming increasingly popular choices for institutions to hedge risks. This market trend is far from over.