Economic Expert: Why Gold Will Climb To $15,000
VRIC Media Jun 26, 2026
Summary
The guest argues China, not the Fed, is the marginal force in gold: People's Bank of China liquidity injections have driven its rise.
He calls China's debt-fueled yuan debasement gold's real driver, with Chinese retail buyers treating the metal as their monetary inflation hedge.
Beijing paused liquidity injections on March 2, 2026, amid Iran tensions, pressuring gold; a restart of that liquidity is the signal to watch.
His key levels are yuan-based: 30,000 yuan (about $4,400) is the line in the sand, with support near 25,000 (about $3,700).
Long term, he sees ongoing monetary debasement tied to Chinese and Western debt pushing gold toward $15,000 per ounce by the mid-2030s.
Michael Howell's takeaways
- Top takeaway Argues that Chinese yuan debasement, not Western debasement, has been driving gold higher, making China the marginal price setter for gold, so investors should look east rather than west.
- Attributes gold's pressure as of mid-2026 to the PBOC pausing liquidity injections on March 2, 2026 amid Iran tensions, expects the injections to resume, and says PBOC repo operations are the marker to watch.
- Watches the yuan gold price for levels: support around 25,000 yuan (about $3,700) and the 30,000 yuan mark (about $4,400) as the key line in the sand.
- Projects gold could reach about $15,000 per ounce by the mid-2030s as ongoing monetary debasement tracks heavy Western and Chinese debt loads, with 8-10% monetary inflation implying gold roughly doubles every 10 years.
- Sees the world monetary system splitting into two spheres, a US Treasury-backed dollar and a gold-backed yuan, with Beijing buying gold monthly to back the currency because it lacks a deep international bond market; he remains positive on the dollar and negative on European currencies.