Retired Franco-Nevada Chairman Sees Gold Reaching $2,400 by 2028

Chairman emeritus of Franco-Nevada and CEO of Fireside Investments Pierre Lassonde believes that gold will trade at as high as $2,400 per ounce by the year 2028. The precious metal will see its value soar as nations such as Russia get rid of the U.S. dollars they hold after the greenback was weaponized following the Kremlin’s invasion of Ukraine, Lassonde said.

The former chairman of gold-focused royalty and streaming company Franco-Nevada Corporation suggested that we could see the emergence of a dual currency system by 2028.

Speaking with Kitco News lead anchor and editor-in-chief Michelle Makori at the BMO Metals, Mining & Critical Metals Conference, Lassonde said that he saw gold trading at around $2,300 to $2,400 over the next five years. He noted that the development of a dual system of currency and payment as well as high gold prices will be mainly precipitated by the ongoing Russia-Ukraine war.

The surge in gold prices began in 2022 after central banks around the world started buying up gold to add to their reserves, causing gold demand to skyrocket. Last year saw the most central bank gold purchases since 1950 and represented the 13th consecutive year of net gold purchases by central banks.

Lassonde suggested that central banks in Brazil, Russia, India, China and South Africa (BRICS) have beefed up their gold purchases as part of efforts to replace the dollar as a reserve currency. He said that although he didn’t know if these central banks will begin using gold as a new currency, he believed that the end result would be a dual system of currency and payments.

Nations such as China, Russia and India are particularly worried about the United States influencing their internal affairs, Lassonde said, and separating themselves from the dollar and the control it grants the U.S. will likely grant them more autonomy. Central banks continued purchasing gold into 2023, collectively adding 31 tons to global gold reserves, and they are expected to remain net gold purchasers throughout 2023.

Furthermore, Lassonde predicted a recession and stock market crash this year, adding that the economic upheaval would ultimately benefit gold. America’s economy will likely enter a recession over the next two quarters, he said, resulting in a “fairly significant recession” that will bring the S&P down by 30%.

Action by the U.S. Federal Reserve would come in too late, and the U.S. dollar would go down while investors overwhelmingly turned their attention to gold.

According to Lassonde, gold equities would continue functioning well under pressure and remain steady as they carry dividend yields.

The expected rise in the price of gold over the coming years is likely to boost the balance sheets of major extraction companies such as Newmont Corporation (NYSE: NEM) if they keep their costs down and optimize all their operations during this inflationary period.

About MiningNewsWire 

MiningNewsWire (MNW) is a specialized communications platform focused on developments and opportunities in the global resources sector. The company provides (1) access to a network of wire services via NetworkWire to reach all target markets, industries and demographics in the most effective manner possible, (2) article and editorial syndication to 5,000+ news outlets (3), enhanced press release services to ensure maximum impact, (4) social media distribution via the Investor Brand Network (IBN) to millions of social media followers, and (5) a full array of corporate communications solutions. As a multifaceted organization with an extensive team of contributing journalists and writers, MNW is uniquely positioned to best serve private and public companies that desire to reach a wide audience of investors, consumers, journalists and the general public. By cutting through the overload of information in today’s market, MNW brings its clients unparalleled visibility, recognition and brand awareness. MNW is where news, content and information converge.

To receive SMS text alerts from MiningNewsWire, text “BigHole” to 844-397-5787 (U.S. Mobile Phones Only)

For more information, please visit

Please see full terms of use and disclaimers on the MiningNewsWire website applicable to all content provided by MNW, wherever published or re-published:

Los Angeles, California
310.299.1717 Office

MiningNewsWire is part of the InvestorBrandNetwork.


Select A Month

Contact us: (310) 299-1717