Gold: Technical Analysis & Insights

Gold is reasserting its strength, breaking out of a wedge pattern formed during its recent consolidation period. This bullish signal suggests a potential surge towards its previous all-time high of $2,790.

The recent sideways movement in gold, which began after its October 2024 peak, can be attributed to the U.S. dollar's rally. However, with the dollar showing signs of weakness, gold is poised to reclaim its luster. A weakening dollar, coupled with potential stock market instability, could further fuel gold's ascent as investors seek safe-haven assets.

Looking ahead, a breach of the $3,000 per ounce mark in 2025 seems increasingly probable. Historical precedents, such as the gold bull markets of 1976-80 and 2005-2012, indicate that a surge beyond $5,000 by the end of the decade is not out of the question.