“新债王”冈拉克加入唱多行列：黄金涨势远未结束，有望达4000美元

Core Viewpoint - Jeffrey Gundlach, the CIO and founder of DoubleLine Capital, believes that the surge in gold prices is far from over, predicting that gold could rise to $4,000 per ounce. He attributes this to changing perceptions among traders regarding gold, influenced by geopolitical tensions and tariffs [1][1][1]. Group 1: Gold Market Insights - Gold prices have increased by 25% year-to-date, indicating a shift in how gold is viewed by investors, moving away from being a speculative tool to being recognized as a legitimate asset class [1][1]. - The global physical gold ETF market expanded by $11 billion in April, reaching a total of $397 billion, reflecting growing investor interest in gold as a safe haven [1][1][1]. - A recent survey by Bank of America revealed that 58% of global fund managers consider gold the safest asset amid a full-blown trade war [1][1]. Group 2: Broader Market Context - Gundlach expresses concerns about other risk assets, predicting a potential "crash" in the stock market, with the S&P 500 index possibly dropping to 4,500 points, representing a 20% decline from current levels [1][1]. - Other analysts, including Goldman Sachs, UBS, and Bank of America, have also raised their gold price targets, with Goldman Sachs setting a target of $3,700 per ounce, citing high policy uncertainty and potential economic slowdown in the U.S. [1][1][1].