Gold trades at $5,202.47 as of writing, up 0.86% in the past 24 hours and 4.07% over the last seven days. The metal has traded from $ 5,130.71 to $5,217.50 within its daily range and now sits roughly 7% below its all-time high of $5,591.56. Momentum has returned. The question now is simple: can it sustain it?
Bank of America Sets $6,000 Target
Bank of America said in its latest report that gold could climb to $6,000 per ounce within the next 12 months. The projection arrives as investors weigh trade tensions and geopolitical uncertainty.
The bank also addressed silver. It expects silver to rise above $100 per ounce again this year, even as higher prices could pressure demand for solar panels. Silver recently gained 3% and traded near $90 per ounce.
Forecasts at this scale often attract attention. Yet price action must confirm conviction.
Tariffs And Geopolitics Drive Safe-Haven Demand
Gold advanced as investors assessed the impact of new US tariffs and President Donald Trump’s 10% broad-based import levy taking effect this week.
Trade policy uncertainty has pushed capital toward traditional safe-haven assets. Spot gold climbed as much as 1.3% to move above $5,200 before easing toward $5,180.
At the same time, geopolitical tensions added fuel. US-Iran relations have shown renewed strain, with both sides scheduled to hold a third round of nuclear talks in Geneva. When global risk rises, investors often turn to gold for stability.
So far, price reflects that shift in positioning.
A Breakout Zone That Matters
From a long-term technical perspective, gold continues to move within a rising channel. Analysts identify the $5,100 - $5,200 range as a major decision zone. This level carries both technical and psychological weight.
If gold closes strongly above $5,200 resistance in the next few days, charts suggest a new leg toward $5,500 could begin. That level would bring the metal closer to its prior record high.
Source: TradingView via X
Market participants also monitor broader macro catalysts. Any shift in official US gold reserve valuation, which remains priced far below market value, could alter sentiment. For now, traders watch reaction rather than chase momentum.
Is this consolidation before expansion, or exhaustion near resistance? The next few sessions may provide clarity.
Long-Term Projections Stretch Even Higher
Coincodex forecasts gold could reach $5,855.55 within the next 1 month. Longer-term projections point to $10,732 by the end of 2026, representing a potential 106% increase from current levels.
Such forecasts reflect expectations of sustained demand, macro uncertainty, and continued central bank interest in precious metals. However, price must navigate resistance zones before validating higher targets.
Gold’s recent rebound places it back in focus across global markets. With tariff policy in flux and geopolitical risks simmering, safe-haven demand has strengthened. $6,000 reality within a year will depend on how these forces evolve.
For now, gold stands at a very strong resistance level. We watch closely as it tests the $5,200 threshold. If it breaks that, it will likely be a level that history may indeed remember, as it will set the stage for $6,000.
