Gold Price Prediction from Bloomberg Strategist
Gold continues to show strong momentum, backed by growing investor confidence and favorable market conditions.
Gold could be headed for the $4,000 mark, according to Mike McGlone, Senior Commodity Strategist at Bloomberg Intelligence. In a recent interview with Kitco News, McGlone explained that the yellow metal has already formed a strong support level at $3,000.
“We’re seeing a solid foundation around $3,000,” he said. “The direction from here looks up, not down.”
From $3,000 to $4,000: Just a Matter of Time
Currently trading near $3,300, gold would need to climb another 21% to reach the $4,000 target. McGlone believes that jump is not only possible but likely.
“The move to $4,000 is coming—the timing is the only unknown,” he said. “Everything between now and then is just noise for traders.”
Previous Predictions Proven Accurate
McGlone isn’t new to bold calls on gold. Back in 2023, when gold was trading near $1,900, he predicted it would break past $3,000. That forecast proved spot-on. Now, he expects the rally to continue, driven by strong fundamentals and market conditions.
Alexander Stefanov
Reporter at Coindoo
Alex is an experienced finance journalist and a cryptocurrency and blockchain enthusiast. With over 8 years of experience covering the crypto, blockchain and fintech industries, he deeply understands the complex and constantly evolving world of digital assets. His insightful and thought-provoking articles provide readers with a clear picture of the latest developments and trends in the market. His passionate approach allows him to break down complex ideas into accessible and insightful content. Follow up on his content to be up to date with the most important trends and topics.
