I don't believe it is more correct gramatically. I believe it is a stylistic choice. I believe the words mean the same thing when 'gather' comes before 'from around the world' as when it comes after.
Exactly my opinion!
Sorry to be a nuisance about this, but just grammatical standard isn't always the most important thing, IMO. If inversion makes something more poetical, then the standard doesn't count - you'd have to rewrite half of LOTR if you wanted to have it correspond to rules of good, standard English, I think.
I don't see how "where friends gather from around the world" implies more of a physical gathering than " where friends from around the world gather" - both are the same kind of gathering.
The difference it makes to me is in the different stress caused by the inversion, and I think if the first version makes you think of really gathering more than the second one, then that's mostly because in the first version the word "gathering" gets enough stress to be noticed, while in the second version it's tucked in so far at the end that it doesn't have the same impact on the imagination.
But that's just the point: the fact that we come together, even from all over the world, is the main point, IMO, so that's the part that should get stressed more. The second version would say that we are from all over the world, but we still come together - it's subtly different, I think.
Although, what's most important to me is rhythm. The second version just doesn't scan as well as the original one.
(Just seen that Faramond noticed the poetic value of the original version, too!
It's not like I would vote against it if it were changed, I just don't see the reason.
(Edit: and as it has to do with language, I of course like to try to make everybody appreciate little poetic subtleties, hence this long sermon
)