Gold is gliding at $3,362 per ounce, gaining a modest 1% against the U.S. dollar over the past week. While its momentum fizzled a bit over the past month, there’s still chatter that the shiny metal’s climb to $4,000 isn’t out of the question.
Gold Eyes $4K: Gold Bugs and Analysts Say the Rally’s Just Getting Started
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$4,000 Gold No Fantasy, Says Wisdomtree’s EU-Based Commodities Strategist
Gold’s 30-day run has been fairly tame, with just a 0.10% bump since July 2. Meanwhile, bitcoin (BTC) may be hovering below $113,000, but it’s still up 2.8% over the same stretch.
Even though gold’s been cruising quietly, die-hard fans insist a breakout is brewing—and hitting $4,000 per Troy ounce is totally doable. Case in point: last week, gold enthusiast Alasdair Macleod posted a technical analysis suggesting the shiny yellow metal is “set to surge.”
Economist and analyst Bald Guy Money weighed in on the July 31 dip, noting, “After 6 straight ‘green’ months for gold, we got a red candle. Nothing to worry about. More green monthly candles to come! UNLESS! Countries stop printing money and paying down their debt (no way Jose).”
Gold fans were on board. One enthusiast replied to Bald Guy Money, “More indications pushing gold prices up over the next five years than down.”
The X account followed up with:
“CB demand, geopolitical uncertainty, monetary easing, and supply constraints create a strong bullish environment, with most forecasts predicting gold to reach $3.5k-$4k by 2026 and $5k-$7k by 2030.”
In a fresh interview with Kitco News, Neils Christensen reports that Nitesh Shah—head of commodities and macroeconomic research at Wisdomtree’s Europe division—shared his view with Kitco that $4,000 gold is within reach. Shah believes it won’t be long before gold picks up steam again and climbs to fresh record highs.
“We certainly think that speculative demand for gold should remain high with rising risks of recession and inflation,” Shah explained. “It took 14 years for gold to rise from $1,000/oz to $2,000/oz—and just over a year to go from $2,000/oz to $3,000/oz. It does not feel like a stretch of the imagination to see a further $1,000/oz added to today’s price, bringing it to over $4,000/oz.”
Even without explosive price action, gold continues to thrive on quiet conviction. Its trajectory may be less theatrical than bitcoin’s, but the metal’s appeal lies in its centuries-long resilience. With each data point and macro tremor, the long-term thesis gains traction. Investors betting on patience over flash might just find themselves rewarded sooner than expected.
Still, forward-looking bets on $4,000 gold hinge on more than just bullish sentiment. As central banks balance inflation control with debt management, gold sits in a delicate sweet spot—neither dismissed nor overhyped. If monetary policy wavers or fiscal burdens deepen, it may not take a breakout to validate the optimism. A steady grind upward could prove just as compelling.
