Gold Crosses $4,200—a Week After It Hit $4,000

By Rob Bates | October 15, 2025

The gold rally appears to be charging full speed ahead, without any speed bumps in sight.

Bullion’s price hit $4,200 on Wednesday—a week after it crossed the $4,000 mark, and two days after it first reached $4,100.

At press time, gold was trading at $4,200 an ounce, after hitting $4,217 earlier in day. The yellow metal’s price has risen 58% since the beginning of the year.

To put this rally in perspective: Gold first hit $2,100 an ounce in December 2023, which means the price of gold has doubled in less than two years.

The new high comes as Bank of America raised its 2026 price forecast for gold to $5,000 per ounce. CIBC Capital Markets has predicted the price will hit $4,500 sometime next year.

Analysts provided all the standard reasons for the latest increase: Tariffs and continued trade tensions, including President Trump’s threatening 100% levies on China; heavy buying from central banks looking to “de-dollarize”; the expectation that U.S. interest rates will fall and thus spur inflation; and the desire for a trusted asset in the face of global instability.

“I now view gold as a safe-harbor asset in a way that the dollar used to be viewed,” Ken Griffin, founder of Citadel Securities, recently told Bloomberg. “That’s what’s really concerning to me.”

(Photo: Getty Images)