Gold Hits Historic Milestone of $3,500 Per Ounce
Gold prices hit a historic high of $3,500 per ounce on Tuesday and reached the milestone much sooner than expected. The precious metal has surged nearly 34% year-to-date and is among the top-performing assets in the broader financial markets. It entered 2025 trading at $2,640 and touched a high of $3,500 in less than four months in the charts.
Also Read: De-Dollarization Reaches European Shores: EU Questions US Dollar Usage
JUST IN: Gold reaches new all-time high of $3,500 for the first time ever. pic.twitter.com/pgL1bAzgzI
— BRICS News (@BRICSinfo) April 22, 2025
The massive price rise can be attributed to the large accumulation of the precious metal by all forms of investors. Retail traders, institutional funds, and central banks of developing countries have been relentlessly accumulating gold since 2022. Countries such as China, India, Brazil, South Africa, and Russia have purchased tonnes worth of gold in the last three years.
Also Read: Ripple: XRP Price Prediction For April End 2025
Gold: After Reaching $3,500, Will It Hit $4,000 Next?
Senior Commodity Bloomberg Intelligence strategist Mike McGlone predicted in a recent interview that gold will hit $4,000 next. He explained that the precious metal has a solid foundation at $3,000 and might never dip below that price range. He revealed that the glittery metal will only go up from here as Trump’s trade wars have solidified the XAU/USD index.
Also Read: Whales Dump $92.5 Million Worth of Dogecoin: How Will DOGE Trade Next?
“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 14.5% from its current price of $3,500.
McGlone was the first analyst to predict in 2023 that gold prices would breach the $3,000 mark. All his forecasts have turned accurate and the $4,000 prediction might also turn true. The XAU/USD index is attracting heavy bullish sentiments with an influx of funds from all corners. The uncertainty of trade and tariffs by US President Donald Trump has made traders take entry into the precious metal.
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Gold Hits Historic Milestone of $3,500 Per Ounce
Gold prices hit a historic high of $3,500 per ounce on Tuesday and reached the milestone much sooner than expected. The precious metal has surged nearly 34% year-to-date and is among the top-performing assets in the broader financial markets. It entered 2025 trading at $2,640 and touched a high of $3,500 in less than four months in the charts.
Also Read: De-Dollarization Reaches European Shores: EU Questions US Dollar Usage
JUST IN: Gold reaches new all-time high of $3,500 for the first time ever. pic.twitter.com/pgL1bAzgzI
— BRICS News (@BRICSinfo) April 22, 2025
The massive price rise can be attributed to the large accumulation of the precious metal by all forms of investors. Retail traders, institutional funds, and central banks of developing countries have been relentlessly accumulating gold since 2022. Countries such as China, India, Brazil, South Africa, and Russia have purchased tonnes worth of gold in the last three years.
Also Read: Ripple: XRP Price Prediction For April End 2025
Gold: After Reaching $3,500, Will It Hit $4,000 Next?
Senior Commodity Bloomberg Intelligence strategist Mike McGlone predicted in a recent interview that gold will hit $4,000 next. He explained that the precious metal has a solid foundation at $3,000 and might never dip below that price range. He revealed that the glittery metal will only go up from here as Trump’s trade wars have solidified the XAU/USD index.
Also Read: Whales Dump $92.5 Million Worth of Dogecoin: How Will DOGE Trade Next?
“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 14.5% from its current price of $3,500.
McGlone was the first analyst to predict in 2023 that gold prices would breach the $3,000 mark. All his forecasts have turned accurate and the $4,000 prediction might also turn true. The XAU/USD index is attracting heavy bullish sentiments with an influx of funds from all corners. The uncertainty of trade and tariffs by US President Donald Trump has made traders take entry into the precious metal.
Read More