On Thursday, gold futures prices surpassed the historic milestone of $3,000 per ounce for the first time, with the most actively traded April contract briefly hitting $3,001.30—a daily increase of 1.97% ($57.90). However, some analysts have pointed out that this is not the end of the gold bull market, and prices are expected to continue climbing in the future.
Since abandoning the gold standard, it took gold 38 years to rise from less than $40 to $1,000 in 2009. In February 2023, gold prices broke through a long-term trendline and are now at inflation-adjusted record highs, displaying unprecedented momentum compared to any prior rally. At the beginning of this year, gold prices were still below $2,700, but they have risen in almost a “parabolic” trajectory over the past year.
At VRIC 2025, Marco Roque, the CEO of Canadian gold exploration company Cassiar Gold Corp. (TSX-V: GLDC; OTCQX: CGLCF) , discussed the company’s resource expansion, its successful 46,000-meter drilling program, and the upcoming mineral resource updates in an interview on METALS 100. He emphasized that the company’s flagship project, the Cassiar Gold Property located in British Columbia, Canada, benefits from extensive infrastructure, which lowers costs and accelerates development. Additionally, Marco shared his outlook on the gold market for 2025 and the potential for investing in Cassiar Gold.
While the market is focused on the $3,000 milestone, Macquarie has stated that the gold rally is far from over. In its latest report, the bank’s commodity team revised its 2025 gold price forecast upward, predicting it would surge to $3,500 by the third quarter, matching the inflation-adjusted historical peak set in January 1980.
Macquarie analysts emphasized that gold’s strength stems from investors’ and official institutions’ preference for the metal due to its lack of “credit or counterparty risk,” particularly in the context of weak global economic growth projections (which could fall to 0.3% in the third quarter). In addition to its safe-haven appeal, the deteriorating fiscal outlook of the U.S. is expected to provide further support for gold prices. With Congress yet to approve a new funding bill, analysts anticipate that the U.S. government is unlikely to make substantial spending cuts.
Finally, if the Trump administration pressures the Federal Reserve to cut interest rates and challenges its independence, it could further accelerate gold’s upward trajectory.
