Gold is heading toward $3,000 a ounce, David Neuhauser, chief investment officer of Livermore Partners, told CNBC.

“Inflation is going to run hotter this year with President Trump’s policies, and at some point in time, you will see some dollar weakness, and with that, of course, gold will react much more favorably,” said Neuhauser, CIO of the alternative asset manager catering to high-net-worth clients and institutional investors.

Gold soared 35% in the past 12 months despite an “extremely high dollar here in the U.S. and higher interest rates,” Neuhauser said. “Ultimately, gold could go even higher and test $3,000 an ounce. I don’t know the timing to that, whether it takes 12 months or longer.”

As for Neuhauser’s expectations for gold’s upside over the next year, he sees it as more muted than 2024, potentially rising 5% to 10%, but “that would target $3,000.”

On Friday, Neuhauser noted, gold hit $2,772.79 per ounce, just below record high levels.

On Monday, spot gold prices dipped to $2,755.79 per ounce at 0304 GMT, pressured by a firmer U.S. dollar and investors awaiting the Federal Reserve's first meeting of 2025 on Tuesday and Wednesday, for guidance on the path of U.S. interest rates.

With this outlook for gold, dollars, and inflation, Neuhauser said, Livermore is “trying to find the best companies and assets that tend to go higher with inflation. The seed is the debasement of dollars.”

Sectors Livermore is currently exploring include “value plays, small-cap, oil, and gas.”

Additionally, the CIO added, “we own Amaroq Minerals (AMRQ), which is a play on Greenland, and a proxy, as U.S. relations are concerned. We look for things like that all the time.”