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Gold prices could hit $4,000 by end of 2025, says Peter McGuireGold could climb as high as $4,000 an ounce this year, says Peter McGuire, CEO of Trading.com, who believes momentum is building across commodities. He expects gold to break out of its current consolidation range and sees silver hitting $40 soon, driven by strong industrial demand. McGuire also anticipates a continued downtrend in the US Dollar Index, with markets closely watching Fed policy moves and Chair Jerome Powell.By Manisha Gupta   July 17, 2025, 2:15:21 PM IST (Published)2 Min ReadGold could climb to as high as $4,000 an ounce, possibly within this year (2025), according to Peter McGuire, CEO of Trading.com. Speaking to CNBC-TV18, McGuire said the current price action in gold suggests a consolidation phase before a potential breakout.

“It's at $3,335 per ounce, giving up a little bit of steam, and I'm not too worried about it. It’s going to oscillate between $3,300 and $3,400 until we see something significant in terms of a breakout,” he said, adding that “$3,600, $3,800, even $4,000 is a possibility.”

McGuire believes the fourth quarter could be a turning point. “We’re building at the moment… the momentum is starting to build,” he said, pointing to broader market trends including smart money flows into Bitcoin and strong movement in silver.

Silver, in fact, continues to outperform. While McGuire noted it has pulled back slightly to around $38, he remains bullish. “It punched through $39… I wouldn’t be surprised if it takes $40 out. I wouldn’t be surprised if it happens this month, the way it’s going.”

He said industrial demand is a key factor. “The needs and wants from industrial demand—photovoltaic cells, what’s happening with electric vehicles—the whole composition of demand is driving further forward each year.”

On the US Dollar Index, which is currently just below 99, McGuire said it may push higher in the short term but sees a broader decline. “I think it’ll probably go through 99 very quickly, and from there, it might get a bit exhausted on the upside. It’s very volatile… but yes, I think the overall downtrend is going to continue.”

He added that traders are closely watching the US Federal Reserve and Chair Jerome Powell. “I want to see what happens with Fed Chair Powell—and that’s if he still has a job… all of these factors are going to be very closely examined over this quarter, and that’ll lead us into Q4.”

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