Gundlach: Gold's going to reach $4,000

3.14.25 - Gundlach: Gold's going to reach $4,000

Gold last traded at $2,987 an ounce. Silver at $33.79 an ounce.

Gold's going to reach $4,000, says Gundlach. He also puts recession probability at 60%. -MarketWatch

The so-called bond king has been a gold bull for a while, and he says the yellow metal will get to $4,000.

"Gold continues its bull market that we've been talking about really now for a couple of years ever since gold was down to $1,800," DoubleLine Chief Executive and Chief Investment Officer Jeffrey Gundlach told investors on a call he hosted that was held this week, but before gold futures reached the $3,000 per ounce milestone for the first time.

"I'd be so bold to say I think gold will make it to $4,000. I'm not sure that'll happen this year, but I feel like that's the measured move anticipated by the long consolidation at around $1,800 on gold," he said.

Gundlach said central-bank purchases of gold have increased at a "very sharp, steep trajectory. And I don't expect this to stop."

"I think that that's in recognition of gold as a storehouse of value that's more outside of the financial system, which seems to be in a state of flux at this point in time," he added.

Gundlach said he also hasn't been surprised that European stocks are starting to outperform the U.S. now that there's a downtrend in the dollar. DoubleLine first started investing in Europe around 2021. "So if you bought Europe versus the United States in 2021, it was painful for a couple of years from 2023 to 2025, but now it's got a lot of momentum," he said.

He said the "Magnificent Seven" stocks were viewed to be invulnerable but now it's clear they are.

"Every sector is always vulnerable and we're starting to obviously see that," he said.