Gold’s Meteoric Rise: Will It Break $3,000?

Gold prices have been on a wild ride, surging from $2,930 to an astonishing $2,990. Just a few weeks ago, I predicted that gold could reach $3,000 by the end of the month, and here we are—just cents away from that milestone. The big question now is: will gold continue to rally beyond $3,000?

A major driver of this surge is the increasing global economic uncertainty. With new tariffs being imposed, trade wars escalating, and potential recessions looming, investors are flocking to safe-haven assets like gold. The U.S. has been imposing tariffs on Canada, Mexico, and China, sparking retaliatory measures that could further destabilise global markets. This economic tug-of-war is fuelling concerns about growth, inflation, and currency stability, leading to a rush toward gold, Japanese yen, and bonds.

Additionally, Bitcoin has been experiencing a downturn, while the U.S. dollar is also facing resistance as investors seek more stable alternatives. If the trade war extends to Europe, we could see further shifts in market dynamics, possibly strengthening the euro as European energy concerns ease.

Looking ahead, my targets for gold remain bullish. I anticipate prices hitting $3,100 and even $3,200 in the coming months, with a potential $100 monthly increase. If we do see a retracement after breaching $3,000, it could present a prime buying opportunity for traders looking to capitalise on the long-term uptrend.

As we wrap up the week, it’s essential to stay informed and prepared. Key economic indicators, such as the U.S. CPI report and Canada’s interest rate decision, continue to shape the market. For deeper insights, join me in my weekly webinars, where we break down these trends and strategies in real time. See you all next week!

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