The gold price is now breaking records, hitting new highs every week. The yellow metal is now inching towards a new all-time high, a major one that could help the asset hit the coveted $4000 price mark in the near future. With gold sitting at $3900, the precious metal has come a long way, as investors continue to explore the asset as a crucial element for parking their investments during stressful economic times. As the USD continues to falter, will gold be able to reach $4000 by the end of this week?
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Gold Price Breaks Out: Further Momentum On Cards?
The gold price is now exploring major highs, as central banks around the world continue to stockpile gold rapidly. The metal is now sitting at an all-time high of $3900, keeping its bullish streak on. The metal is now heading towards the coveted $4K mark, with experts claiming higher price ranges for the asset to explore in the near future.
The increased investor pivot towards gold has been another factor leading its prices to explore new highs, as investors continue to stockpile gold to balance their portfolios in the current wobbly market.
“Gold price has increased approximately. 50% this year to a record high of $3,906 an ounce, the biggest in almost 50 years. Huge windfalls for Africa’s gold producers, including Ghana, South Africa, Tanzania, DRC, Mali, Ethiopia, etc. FT: The main reason for the increase is investors making long-term allocations to precious metals in the same way they do for equities and bonds. Inflows into gold exchange-traded funds (ETFs) have soared above 3,800 tonnes, close to their peak during the Covid pandemic sell-off of risky assets.”
Per Rashad Hajiyev, a leading financial expert, USD is up for more volatility in light of future Fed rate cuts and inflation. If this volatility continues, the gold price can easily hit $4K as soon as the end of this week.
“Dollar index futures (DX) is flirting with the lower band of the 18-year rising channel. With the Federal Reserve scheduled to start cutting and easing policy, DX could lose nearly 2 decades of support. Imagine the consequences for the precious metals…”
What’s Next for the Asset?
Per Allie, another leading financial expert, gold is almost nearing $4K, all while aiming for $4100 and beyond as its next potential targets to keep an eye on.
“Gold Long-Term Outlook: Bullish Pattern, December Price Target: 4100. Current Price: Approximately $3,886. Timeframe: 3-Month Outlook (October-December 2025). Target Price: 4100. Key Support Level: 3793. Technical Analysis: Gold is currently consolidating around 3886, having previously filled the fair value gap (FVG) around 3875. I anticipate a short-term pullback to 3793 support, which aligns with significant historical demand. I anticipate this level to serve as a springboard for the next bullish rally, with a year-end target of 4100.
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