How High Could Gold Price Go? $6,600 Says Jefferies, $11,900 Says Money Supply

September 23, 2025

The gold price is roaring again to start the week, and even set another new all-time record high this morning,

But how high could the gold price go?

Jefferies just put out an aggressive price target, which is still well short of what the money supply would indicate. But to find out what to make of all of it, Vince has you covered this morning.

Arcadia Economics

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USA has the world’s largest holdings of gold: 8,134 - representing 77% of its Total Foreign Reserves.
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