Gold continues to shine. The metal recently hit a new record high above $3,500, last trading at $3,536.83. With momentum accelerating, many analysts believe gold could test $4,000 as investors seek safe-haven assets amid economic uncertainty.
Why Gold Is Moving Higher
Several key catalysts are driving the rally:
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Tariff Developments: A U.S. appeals court ruled that President Trump’s global tariffs are illegal. However, the court allowed existing tariffs to remain through October 14, giving time for a Supreme Court appeal. This ruling added fresh volatility to global trade expectations, boosting gold demand.
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Federal Reserve Policy: Traders are pricing in the possibility of an interest rate cut at the Fed’s September meeting. Lower rates historically weaken the U.S. dollar and increase the appeal of non-yielding assets like gold.
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ETF Inflows: Gold ETF inflows surged to 170 tonnes in the second quarter of 2025. Combined with first-quarter demand, this marked the strongest first half for gold since 2020, when pandemic-driven uncertainty sent flows soaring.
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Macro Forces: Geopolitical instability, growing central bank demand, and a weakening dollar continue to create a supportive backdrop for higher gold prices.
Analyst Targets for Gold
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Fidelity: Forecasts gold could climb to $4,000 by the end of 2026.
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Goldman Sachs & Bank of America: Both see $4,000 as a realistic target over the next 18–24 months.
Why Barrick Mining (B)?
One way to play the potential upside is through gold miners — and Barrick Mining (B) stands out:
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Recently upgraded to Outperform by CIBC, with a price target of $30.
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Analysts cited stronger quarterly results and an improved long-term outlook.
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The company also raised its dividend to 15 cents per share, payable September 15 to shareholders of record as of August 29.
For traders, Barrick offers both leveraged exposure to gold’s price and the added benefit of a dividend yield.
Bottom Line
Gold’s breakout above $3,500 has placed the $4,000 mark firmly in focus. Whether the driver is Fed policy, trade rulings, or safe-haven demand, momentum is clearly on the bulls’ side. For those seeking exposure, Barrick Mining provides a potential vehicle with both upside and income potential.
👉 Keep an eye on gold’s next move — and watch how Barrick performs as the metal pushes toward new highs.
📌 Educational only. Not investment advice. Trading and investing involve risk and are not suitable for all investors. Past performance is not indicative of future results.