The gurgling is the sound of air mixing with water. Add a gate valve (make sure to use a GATE valve and NOT a ball valve) as as gate valve will allow more precise tuning. As others have said your are draining the tank faster then you are filling it. Once you adjust the valve it will slow down the draining a bit but will however create a siphon. You sound very handy to me as your drilled a tank. If I were you I would add a second drain and turn this into a bean animal / herbie overflow. That style is dead quiet and has basically become the standard and so many tanks these days. The way it works is there are 3 drains (you can get away with 2). First drain has a gate valve on it, you adjust the valve so that drain line is just under sized for the return lines water volume. Since it is just a tad undersized it's always at full siphon which means there is no air in the line and no gurgling sounds. The second line pickup the small amount of extra water that the main drain isn't handling. Since it is a small amount only the water falls through the pipe and glides down the inner walls of the pipe without air mixing in and you have a silent overflow system. Bean animal added a third drain which is a safety drain, that is in case something gets clogged the water will go down the third drain. Since you are DIYing and in your early stages of this tank I would definitely consider this system, you will not regret it. This is a very quick description of how this works. You can get more info here
https://beananimal.com/projects/silent-and-fail-safe-aquarium-overflow-system/
Adam