Gold has now become one of the most spectacular breakthrough assets to keep an eye on, as it’s poised to scale higher, per experts. Gold price momentum has taken a break as of late, but analysts believe that gold’s current pause may result in the asset claiming high price marks in the blink of an eye.

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Gold Price eyeing $5200: The Case Behind the New Bull Run

According to expert Chris Vermeilan, gold can skyrocket to $5000 in the blink of an eye, as soon as its present price consolidation is over. Per a clip released by ITM Trading on X, Vermeilan shared how gold may climb the prestigious $5k mark in phases, conquering the first phase of $4700 first. He later stated how gold’s next leg could help the asset hit $5000, followed by another high targeting the $5100 to $5200 mark.

“Where we should see gold rally too. So if we were to just kind of look where gold is right now, we should see it run to roughly about, you know, $4,700 and then all the way up to about $5,100 or $5,200. And do I think it’ll be a smooth ride? I think once it starts to take off, I think it’ll be fairly quick and fluid. It’ll ramp up. I do think, as you mentioned, I think this move to $5,000 could be very swift. One of the good examples of this is if we just go to the monthly chart. And we’re in this parabolic kind of phase where things go straight up. So we could get a couple of these, a couple of green bars, which are a couple of monthly bars. And we could be there in no time at all. And, you know, from where we are right now, it’s only a 25% move roughly to that $5,000 mark. So things are going to pick up speed.”

What Are Other Analysts Saying About Gold?

The gold price has currently crossed the $4K mark after falling back to the $3900 level as the USD gained momentum for a brief period of time. The metal recovered gradually and is now on the path to explore $5K levels, as prominent financial expert Rashad Hajiyev had predicted earlier.

Hajiyev, in one of his X posts, stated how the gold chart is showcasing a bull run towards $5000 in due time.

“This is a daily chart of spot gold. My next price target for gold is $4.9k (could overshoot to $5k), which could be achieved in two legs. The first target for gold is $4.6k and silver $64 (the gold-to-silver ratio (GTS) immediate support is at 75). Second target: $4.9k gold, $85 silver price (GTS immediate next support 57). Metals should slowly start moving higher starting from the next week. As I would like to see gold at $4.6k and silver at $64 before the end of the year.”

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