Gold price rises, will it reach $3000?

[AMZFx]

Gold’s rally to $2,706 highlights the strong bullish sentiment driven by geopolitical risks and expectations of Fed rate cuts. The consistent inflow into gold ETFs and aggressive central bank purchases are reinforcing this momentum. If the Fed signals further easing, the path toward $3,000 seems more realistic, especially with inflation concerns still lingering.

However, as you pointed out, profit-taking could trigger temporary pullbacks, making it crucial for traders to manage risk carefully. The key question now is whether gold consolidates before its next leg up or if it continues its parabolic rise. Watching central bank actions and macroeconomic data in the coming months will be essential.

Do you see any significant resistance levels that might slow down this surge before it reaches $2,900?

 

[Zerologic]

Gold prices seem to be correcting below 2900; referring to the channel, prices tend to rise, but volatility is somewhat decreased. Sometimes, Trump's statements can suddenly change the market.

 

[Zerologic]

Yesterday, gold prices fell again to a low of 2880 after consolidating in the market range. Today, investors are waiting for the US JOLTS Job Openings data, which may affect the short-term market, which is expected to increase by 7.65m from the previous revision of 7.60m.

 

[Zerologic]

Yesterday, gold prices rose again, extending the previous day's increase, reaching a high of 2940, and today, it has reached 2941. The US inflation data released yesterday seems to bring bets that the Fed may cut interest rates at the May meeting. Low interest rates support gold as a non-yielding asset.

 

[Zerologic]

Yesterday, we witnessed once again the gold price recording a new all-time high for the umpteenth time in 2025. Yesterday, the price reached 2989; perhaps Goldman Sachs' prediction of revising the gold target to $3000 can be achieved this year.

 

[ImogenBeaumont]

Gold price has now reached $2706 extending the previous day's gains. It seems that positive gold sentiment amidst geopolitical risks and also hopes of the Fed cutting interest rates has further confirmed the unstoppable rise in gold prices. However, sometimes profit-taking can cause prices to rebound and this requires caution.

Giant global banks predict that gold will extend its price rise and break records again until 2025, supported by the rapid inflow of investor funds in gold exchange-traded funds (ETFs) and additional cuts in interest rates by central banks around the world. Several of the world's top banks even project the price of the yellow metal to exceed US$3,000 next year.

Meanwhile, the action of buying up gold by the central bank is still significant in the London over-the-counter market, which could encourage a 66% increase in gold prices which is predicted to reach $2,900 in early 2025.

I'm still learning, but it sounds like gold prices are rising due to global uncertainty and interest rate cuts. Big banks think it’ll keep going up, even reaching $3,000 next year. I guess it’s important to stay cautious, though, since prices can drop after people take profits. Lots to learn!