Gold News Today

Gold’s technical signals point to the potential for a surge to $4,000 an ounce, according to Andrew Addison of Institutional View. This analyst highlights the yellow metal’s 12-year bullish foundation, marked by increasingly tight consolidations and steady upward movement. Although based on different methods, this technical analysis reaches the same conclusion as experts focused on macroeconomic indicators and geopolitical trends, reinforcing the probability of these optimistic gold readings.

The Bullish Breakout

In a Barron’s piece, Addison outlined his justification for a bold $4,000 gold price call. Through careful technical analysis–the study of previous price movements to gain insights about potential future performance–he determined gold has “upside projections to at least $3,600-$4,000.” This favorable range represents roughly 20% to 30% gains from current prices.

While investors have been focused on gold’s crossing of the $3,000 barrier, this analyst believes $2,200 was a more meaningful milestone. From mid-2020 to the end of 2023, gold prices hovered around $1,800, struggling to break out to the upside. After jumping over the “final resistance at $2,200,” Addison says gold has achieved “escape velocity.”

A 12-Year Base

Momentum plays a crucial role in gold’s ongoing rally, but it doesn’t tell the whole story. By combing through over a decade of price action, Addison uncovered a massive 12-year base that started forming in 2011. Technically speaking, gold prices entered higher and tighter consolidations, meaning sellers were losing strength while buyers took over. This long period of build-up acts as a firm foundation upon which gold’s strong price action has grown.

Blue Skies Ahead

As gold continues exploding to all-time highs, there’s a knee-jerk reaction for investors to expect prices to hit a ceiling. Addison takes the opposite perspective. The fact that the yellow metal is in uncharted territory means no historical resistance remains to challenge the rally. He sums it up by saying, “It’s now ‘blue sky’ on the upside.” This aligns with 2025 gold price forecasts from experts, which keep rising as the yellow metal continues setting new records.

Pullback = Buying Opportunity

Addison emphasizes that gold’s path to $4,000 won’t be a straight line. Notably, that’s a good sign for investors, particularly those who haven’t entered the market yet or are looking to build their positions. In light of gold’s positive forecast, any break in the upward price action is an opportunity to dollar-cost average for a lower cost basis and potentially higher returns in the future.

These pullbacks in prices present opportunities for us.

–Scottsdale Bullion & Coin’s Sr. Precious Metals Advisor Steve Rand

In this week’s The Gold Spot, Scottsdale Bullion & Coin Precious Metals Advisor Brian Conneely and John Karow discuss the recent outing of Treasury Secretary Scott Bessent as a gold bug, how major banks are advising investors to trade gold, and why Germany is talking about repatriating its gold reserves currently held in the United States.

US Treasury Secretary a Gold Bug?

In a widely circulated interview with Tucker Carlson, the current Treasury Secretary Scott Bessent revealed his positive attitude towards gold. When asked if he was anti-gold, Bessent replied: “Oh, no. When I had my fund, people might have called me a gold bug.” This revelation comes as global markets sink amid an ongoing trade war between the US and China.

The Treasury Secretary continued by highlighting some of the yellow metal’s major advantages compared to the dollar and risk assets, such as its long history of keeping pace with inflation and its lack of concerns about a budget deficit or fiscal issue.

Gold historically has been a store of value. Gold can’t have a fiscal problem. Gold cannot have a gigantic budget deficit. Gold cannot have a war.

–Treasury Secretary Scott Bessent

It’s simultaneously unusual and telling for the country’s leading economic policymaker to come out publicly as a gold bug. If one of Earth’s most fiscally influential people sees gold as more stable and secure than the US dollar and stocks, everyday investors should take notice.

Bessent believes that gold is the ultimate currency and everything else is credit.

–Precious Metals Advisor Brian Conneely

Major Banks Say “Buy the Gold Dip”

After crossing the historic $3,000 milestone and quickly jumping over $3,100 an ounce, gold prices took a slight breather, dipping to $2,980 an ounce. Instead of rethinking their bullishness on the yellow metal, major banks encouraged investors to buy the dip.

• Goldman Sachs sees any pullback as an opportunity to lock in relatively lower prices on its “highest-conviction view in commodities.”
• Despite hitting record highs, Morgan Stanley claimed the yellow metal was the “top pick” among commodity assets.
• UBS analysts told investors to “buy the gold dip,” anticipating prices to move higher shortly.

These big-name banks, along with many other financial institutions, have raised their 2025 gold price forecasts in response to the metal’s strong performance so far this year. Some have even set gold price targets as high as $4,000 an ounce, signaling a substantial jump from current levels.

“Historically, these banks have been very conservative sources, so we could really see a better year for the gold market.”

Brian Conneely

Precious Metals Advisor

Germany’s Gold Problem

As President Trump’s combative stance toward European allies persists, Germany is weighing the repatriation of 1,200 tons of physical gold currently stored in the US. This sizable amount accounts for 30% of Germany’s total reserves—the second-largest gold holdings in the world, behind only the US.

The newly formed German government is calling for “regular checks of Germany’s gold reserves” held by the Federal Reserve and mulling over the repatriation of all holdings to Frankfurt. However, Germany’s central bank recently stated it has “complete confidence in our colleagues at the American central bank.”

Ultimately, German officials appear focused on improving oversight of the gold reserves held in the US, a move that aligns with President Trump and DOGE’s push to audit Fort Knox, home to the largest gold holdings in the US and the world. As gold gains importance as a hedge against uncertainty, questions about where it’s stored are becoming as critical as how much is owned.

👉 Suggested Reading: Suggested Reading: Does Fort Knox Really Have Gold, Or Is It Just Another Conspiracy?

🚨 FINAL CALL: IRA Contributions Deadline! 🚨

Investors have less than a week to make their IRA contributions for the 2024 tax year. Tuesday, April 15, 2025 (Tax Day) is the deadline for topping up your nest egg and reducing your taxable income. With major banks raising gold price targets, investing today could mean stronger gains and a more secure retirement.

If you haven’t contributed yet, now’s the time. Check out our step-by-step guide for making IRA contributions to get started.