With global markets closed for Good Friday on April 18, gold trading is on pause. But investors are already looking ahead to Monday’s reopening, when trading resumes on platforms like the Intercontinental Exchange (ICE) and Multi Commodity Exchange (MCX).
The yellow metal closed on Thursday at $3,315, continuing its surge in recent months as global economic uncertainty, geopolitical tensions, and shifting interest rate expectations push demand higher. With forecasts ranging from cautious consolidation to explosive new highs, many are now asking: Could gold reach $4,000 before the year is out?
Why Gold’s rally might be far from over
Wall Street veteran Peter Grandich, former Chief Market Strategist and Portfolio Manager for four hedge funds, believes the case for gold is deeply rooted in global debt levels and long-term monetary instability.
“Because of all the indebtedness in the world and particularly in the world’s current reserve currency, gold is going to have to be used in some form to get them out of the mess. And so whether or not it has $500 correction in it or another $500 run up before a correction, the important thing to recognize is there’s nothing in a fundamental argument—other than maybe technical overbought—to say that gold has reached its ultimate peak here.”
Grandich’s comments reflect a broader sentiment: gold’s momentum may be driven less by fear and more by the underlying fragility of the global financial system.
Peter Schiff says Gold mining stocks could double or triple
Fellow gold bull Peter Schiff is even more optimistic, especially when it comes to mining stocks. As spot prices climb, Schiff in an interview on April 16 sees outsized opportunities for investors willing to pivot beyond physical gold.
“Investors are now going to have to come to the conclusion that gold’s not going back down to $1,500. It’s probably not even going down to $3,000. It’ll probably be at $3,500, $4,000 before the end of the year, and it’s going much higher than that. So gold stocks have to be repriced, and I think between now and the end of the year these gold stocks could double or triple. So there’s a lot of opportunity for investors to buy these stocks now.”
He added:
“In fact, I’m telling my clients to not even buy physical gold. I’ve been recommending physical gold since before $300 an ounce—now it’s $3,230—but I think that the opportunity is so great right now. […] You’ve got to buy these gold mining stocks before they really take off.”
Gerald Celente: “The Deeper the Dollar Falls, the Higher Gold Prices Rise”
Gerald Celente, founder of the Trends Research Institute, links gold’s future directly to the fate of the U.S. dollar and interest rates. Celente highlighted in his latest YouTube post gold’s role in the global monetary system. As economies move away from dollar dominance, gold becomes a preferred store of value for international investors and central banks alike.
“The lower interest rates go, the deeper the dollar falls. The deeper the dollar falls, the higher gold prices rise. Gold is dollar-based. As the other economies’ currencies go up, it’s cheaper for them to buy gold—and they’re going to buy more gold.”
With gold holding firmly above $3,300, and analysts forecasting moves toward $3,500 and even $4,000 by year-end, gold remains one of the most closely watched assets in 2025 and one many investors aren’t willing to ignore.
