Video•Feb 5, 2026
Dr. Nomi Prins: Why Gold Will Go To $10,000, Still 'Early Innings' For Silver & Critical Minerals
Dr. Nomi Prins, economist and founder of Princite Global, warned that gold could eventually reach $10,000 an ounce while silver remains in its "early innings," driven by a confluence of geopolitical tension, central‑bank buying and a looming supply crunch. She highlighted the stark premium on physical silver in Shanghai—about $16 per ounce above Western markets—as evidence that investors in the East are hoarding the metal for both industrial use and safe‑haven purposes.
Prins outlined five straight years of global silver deficits, now equal to roughly one year’s total demand, and noted a two‑year lag before any new high‑grade mines can come online. Meanwhile, gold faces a subtler scarcity: mining output has barely risen, and new projects require a decade or more to develop, tightening future supply even as central banks continue to purchase roughly a quarter of the market, adding over a thousand tons annually.
Key examples included China’s January 1 export controls on processed silver and the U.S. listing silver as a critical mineral, both underscoring the strategic value of physical holdings. Prins also cited the $16‑ounce Shanghai premium and the fact that central banks hold only 5‑6% of reserves in gold, yet their steady buying has propelled the metal’s bull run since the 2022 Russia‑Ukraine conflict.
For investors, the message is clear: physical exposure to gold and silver is likely to become more valuable as supply constraints tighten and geopolitical risk heightens. Anticipating higher premiums, especially in Asian markets, and positioning for potential price spikes in both metals could enhance portfolio resilience amid ongoing macro‑economic uncertainty.
