Gold is currently putting all its efforts into breaking beyond the $2665 price mark. The current positioning of XAU is met with intense resistance, disabling the asset from breaking new boundaries. In this wake, Gold is also eyeing a new possible target, which could help XAU claim new price highs. Here’s how gold could hit $3200 in the near future.
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Analyst Predicts New Price Trajectory For Gold
Per Rashad Hajiyev, a notable asset analyst, Gold is already surging ahead, targeting a new price spot, a rather ambitious one in a new attempt. The expert clarified how Gold is putting all its efforts into breaking the $2665 price level that it’s currently in. Once it moves behind the aforementioned price spot, the asset could catapult to new highs, as the expert cautiously remarked.
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“Gold has been trying hard to overcome the $2,665 level for the past week. Once it breaks out, there is no turning back…
Gold has been trying hard to overcome $2,665 level for the past week. Once it breaks out there is no turning back… pic.twitter.com/bUdEYvF69w
— Rashad Hajiyev (@hajiyev_rashad) January 9, 2025
Similarly, Hajiyev later clarified how XAU is already on the verge of hitting $3200 but may ultimately find some pressure when it comes to claiming the $2690 price level.
Looks like silver is making its move. Gold will find resistance just under $2,690. Overall looking good, pity US stock market closed…
— Rashad Hajiyev (@hajiyev_rashad) January 9, 2025
Once the said level breaks, gold may hit a new price spot of $3200, rallying 19% in the process.
When Can XAU Hit This Coveted Price Spot?
As per Hajiyev, the precious yellow metal can surge and rally 19% within the next 2 months, provided the market momentum helps Gold ace new highs.
Gold is setting up for next leg up in my opinion. Previous 3-month consolidations during 2024 resulted in 19% rally. If history repeats then 19% rally upon breakout could take gold to $3,200 within roughly 2 months… pic.twitter.com/H2jU7nkDTD
— Rashad Hajiyev (@hajiyev_rashad) January 9, 2025
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