Gold price rises, will it reach $3000?

[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!

 

[Zerologic]

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!

Last week, gold reached the target of $3004. if global conditions remain uncertain, it may still be able to extend the rise, but investors may also look for alternative assets with low prices such as Bitcoin.

 

[ThaddeusFinch]

Yesterday's gold price declined to a low of $2708. The price reached a high of $2758 and became a new all-time high to date The decline in gold prices can be caused by profit-taking by traders amidst gold prices which are considered to have entered overbought levels. On the other hand, the strengthening of the Dollar Index which continues to weigh on other currencies is also the reason for gold's decline. Plus rising US Treasury yields. Ahead of the US election Gold prices are depreciating, but hopes that the Fed will cut interest rates next month could support gold in the long term.

Will a Fed rate cut be enough to help gold prices go up, even with the strong Dollar and higher Treasury yields pushing them down?

 

[Zerologic]

Will a Fed rate cut be enough to help gold prices go up, even with the strong Dollar and higher Treasury yields pushing them down?

Just looking at further market changes, in theory, high interest rates are less good on gold, but the dollar index which tends to weaken may encourage people to buy safe-haven assets including gold.

 

[Zerologic]

Once again the price of gold has jumped sharply, yesterday the price reached a new all-time high of 3038 and drew a long-bodied bullish candle, but the RSI has shown a level of 71 signaling that the price is already in the overbought level, be aware of a retracement or reversal.

 

[Zerologic]

Today witnessed again the price of gold recorded a new all-time high of 3055, although the RSI indicator has shown an overbought level, but has not stopped the increase in the price of gold. This may be triggered by the increasingly tense geopolitical risk between Israel Hamas and also the US and Houthi in addition to concerns about the US recession.

 

[Zerologic]

Yesterday, gold prices recorded a new all-time high of 3057, this is higher than the previous 3055 but closed lower at 3044. The Fed left interest rates unchanged at this week's meeting, which is the reason the USD strengthened, as seen from the dollar index which rose to 104.130.

 

[Zerologic]

Gold prices dropped at the end of last week, but remained within the $3000 range. The decline in gold prices was in line with the strengthening of the dollar index (DXY) which tracks the USD against six other major currencies.

 

[Zerologic]

There is no news relevant to gold on the economic calendar today. Yesterday gold price drew a bearish candle but is still above $3000, if it breaks below that maybe gold can find new support.

 

[Zerologic]

Although yesterday it went up drawing a bull's candle, gold is still in the previous price range, moving above the 3000 level, maybe this is the accumulation stage of gathering power before determining the real trend direction.

 

[ThaddeusFinch]

Just looking at further market changes, in theory, high interest rates are less good on gold, but the dollar index which tends to weaken may encourage people to buy safe-haven assets including gold.

That makes sense. A weaker dollar could definitely support gold, but with rising treasury yields, it’s a bit of a balancing act.

 

[Zerologic]

Gold prices seem to still be in a consolidation phase, the market is still hesitant whether gold will rise higher or fall lower. Today, there is the release of US GDP data and Jobless Claims, but perhaps the market will focus more on the PCE index which will be released on Friday.

 

[Zerologic]

Surprisingly enough, the price of gold has reached 3060, it seems that this is driven by market fear because of Trump's new tariffs which threaten a 25% tariff on cars made outside the US, the impact of which is that countries such as Japan will immediately respond by retaliating against the tariffs and also Canada.

 

[Zerologic]

Gold has shown an extraordinary performance. In the first quarter of this year, gold has recorded several new all-time highs. Yesterday, gold prices soared again to $3127 amid Trump's "Liberation Day" on April 2.

 

[Zerologic]

Gold prices corrected after reaching a new all-time high of 2148, closing at 3113, lower than the open of 3120 and the low of 3100. Today there is high-impact news on ADP Non-Farm Employment Change