Key Takeaways Some strategists think gold prices could theoretically rise more than 50% from current levels, which as of late Thursday were well above $5,400 an ounce. A measure of investor appetite for gold: The metal has outperformed bitcoin over five years. While bitcoin was dubbed "digital gold," it's analog gold that has seen its price mostly go up these days. That inflows into gold and silver ETFs toward the end of last year coincided with outflows from bitcoin ETFs, showed which investors preferred, according to JPMorgan. That preference can translate to a meaningful rise in household gold holdings, which the firm estimates could rise from 3% of overall portfolios now, to 4.6% in the next few years.