Gold prices are once again surging, rebounding above $4,800 an ounce after a sharp pullback earlier this month. The move follows a historic rally in 2025 that stunned Wall Street and caught many everyday investors off guard.
But according to one well-known financial forecaster, the rally may only be getting started.
Legendary analyst Martin Armstrong is now warning that gold could ultimately climb to $10,000 per ounce, driven not by ordinary market fear but by something far more dangerous: Europe’s accelerating march toward economic breakdown and war.
And if Armstrong is right, the consequences for global markets could be severe.
Speaking in early February on Greg Hunter’s USAWatchdog, Armstrong delivered a grim assessment of Europe’s financial health. He argued that decades of reckless spending, exploding sovereign debt, and unfunded pension obligations have left European governments boxed into a corner.
“I think Europe is so desperate for war,” Armstrong explained. “My concern with the Trump Administration is I would not step a foot in there. Europe needs war. You already had the finance ministers of France and Germany say that they may need IMF bailouts. This is why they want war.”
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