Jim Rickards makes the case for gold at $10,000 US an ounce

Gold is often seen as a safe investment in times of economic uncertainty, and prominent investors, such as George Soros, are placing big bets on the precious metal.

Gold prices have been surging lately and gold stocks are among the top performers in 2016.

In his new book The New Case for Gold, Wall Street veteran Jim Rickards explains why he expects the current world monetary regime to fail and why he sees bullion heading to $10,000 US an ounce.

The current increase in the dollar price of gold reflects the decline of the U.S. dollar, Rickards said during a recent interview with Peter Armstrong, host of The Exchange on CBC News Network.

"It's sort of a vote of no confidence in central bank policies," Rickardssaid.