Gold Prices Will Reach $4,000 Next: Bloomberg Strategist
Gold prices are skyrocketing in April as it breached the $3,300 mark on Wednesday. It surged close to 2.5% in the charts by rising 80 points at the opening bell. The precious metal is attracting heavy bullish sentiments as retail investors, institutional funds, and central banks are accumulating it.
Also Read: XRP Price Prediction: 25% Drop in XRP as Euro Stablecoin Hits XRP Ledger
There has rarely been a dull day for gold since 2024 as prices are hitting a new ceiling almost every month. If investors thought $3,000 was the peak, the markets welcomed a new price of $3,300 in less than a month. Traders are unable to catch up with the rising pace of the precious metal giving no opportunity to buy the dip.
Also Read: Pi Coin April 2025: Price to Jump 230% This Month? $2 Peak In Sight
$4,000 Gold Prices Incoming, Says Bloomberg Strategist
Mike McGlone, Senior Commodity Bloomberg Intelligence strategist told Kitco News that gold prices are on the way to reach $4,000. He explained that the precious metal has put a solid base at $3,000 and has less chance of dipping below that. The only way from hereon is upward with slim chances of heading south in the indices.
Also Read: Shiba Inu Vs. Dogecoin: Which Can Turn $1000 To $1 Million First?
“We’re putting in a pretty good base now around $3,000,” McGlone said. “It’s going to head into $4,000, the question is time. Anything in between there is for the traders, which I used to do.” If gold prices hit $4,000, it would have surged a staggering 21% from its current price of $3,300.
McGlone was among the first analysts to predict that gold prices will breach the $3,000 mark. His first prediction came in 2023 when the XAU/USD index was trading at the $1,900 mark. The senior analyst predicted that gold prices would breach $3,000 and his forecast has turned out to be accurate. The Bloomberg Commodity analyst now forecasts that the glittery metal will touch the $4,000 mark next. It’s only a matter of time, he said during a recent interview.
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Gold Prices Will Reach $4,000 Next: Bloomberg Strategist
Gold prices are skyrocketing in April as it breached the $3,300 mark on Wednesday. It surged close to 2.5% in the charts by rising 80 points at the opening bell. The precious metal is attracting heavy bullish sentiments as retail investors, institutional funds, and central banks are accumulating it.
Also Read: XRP Price Prediction: 25% Drop in XRP as Euro Stablecoin Hits XRP Ledger
There has rarely been a dull day for gold since 2024 as prices are hitting a new ceiling almost every month. If investors thought $3,000 was the peak, the markets welcomed a new price of $3,300 in less than a month. Traders are unable to catch up with the rising pace of the precious metal giving no opportunity to buy the dip.
Also Read: Pi Coin April 2025: Price to Jump 230% This Month? $2 Peak In Sight
$4,000 Gold Prices Incoming, Says Bloomberg Strategist
Mike McGlone, Senior Commodity Bloomberg Intelligence strategist told Kitco News that gold prices are on the way to reach $4,000. He explained that the precious metal has put a solid base at $3,000 and has less chance of dipping below that. The only way from hereon is upward with slim chances of heading south in the indices.
Also Read: Shiba Inu Vs. Dogecoin: Which Can Turn $1000 To $1 Million First?
“We’re putting in a pretty good base now around $3,000,” McGlone said. “It’s going to head into $4,000, the question is time. Anything in between there is for the traders, which I used to do.” If gold prices hit $4,000, it would have surged a staggering 21% from its current price of $3,300.
McGlone was among the first analysts to predict that gold prices will breach the $3,000 mark. His first prediction came in 2023 when the XAU/USD index was trading at the $1,900 mark. The senior analyst predicted that gold prices would breach $3,000 and his forecast has turned out to be accurate. The Bloomberg Commodity analyst now forecasts that the glittery metal will touch the $4,000 mark next. It’s only a matter of time, he said during a recent interview.
Read More