World gold prices continue to shine in the recovering financial market, when they first reached the 3,000 USD/ounce mark on March 14.
As of 6:30 a.m. on March 20, the world gold price listed on Kitco increased sharply to 3,050.2 USD/ounce, up 13.2 USD/ounce compared to the previous day.
For the most optimistic investors, this is just a stepping stone for a long way ahead.
Jeffrey Gundlach, CEO and founder of DoubleLine, said he believes gold could reach $4,000/ounce. The main reason, he said, is the "standing and very strong" gold buying speed of central banks around the world.
Central banks are an important factor driving gold demand, thereby directly affecting prices. Data from the World Gold Council (WGC) shows that central banks have continuously bought more than 1,000 tons of gold per year for 3 consecutive years and are expected to continue this trend in 2025.
"Sustainable buying highlights the strategic importance of gold in official foreign exchange reserves, especially as central banks face increased geopolitical risks," said a senior research expert at the WGC. For example, China has continuously increased its gold reserves for 4 months since November 2024.
CEO Gundlach, known as the "bond king" for his deep understanding of the fixed income market, pointed out that gold has been in a sustainable bullish trend for the past few years, after falling to $1,800/ounce.
"I believe gold will reach $4,000. Maybe not this year, but I feel it is a predictable leap after a long period of accumulation around $1,800/ounce," said CEO Gundlach.
While CEO Gundlach's forecast may seem far-fetched, more realistic predictions still show that gold prices could continue to peak this year. Macquarie analysts, headed by Marcus Garvey, have recently raised their gold price forecast to $3,500/ounce in the third quarter of 2025.
Earlier this year, veteran fund manager Adrian Day - CEO of Adrian Day Asset Management - told Kitco News: "I wouldn't be surprised if gold prices reached 3,500 - 4,000 USD/ounce in the next 12 months".
With the question of whether gold can reach the $4,000 mark, investors are still closely monitoring the buying movements of central banks - a factor that can determine the upcoming trend of this precious metal.
