Billionaire investor bets on gold, predicts prices will double
Business
Joy Alukkas, who runs the Joyalukkas jewelry chain, thinks gold prices will climb sharply in the next couple of years.
His company holds a massive stash of gold, and he points to global tensions and economic uncertainty as big reasons for his prediction.
Gold's price jump
Gold is seen as a safe bet when things feel unstable, which is why its price keeps rising.
But for businesses, restocking gold gets more expensive too.
Over the past year to January 2026, spot gold jumped to above $5,000 an ounce.
Predictions from big banks
Central banks are buying more gold and interest rates are expected to fall—both factors that help keep prices high while the world feels unpredictable.
Some banks have forecasts targeting multi-thousand dollar levels in coming years.