Gold has been on a roller-coaster this week, with prices swinging sharply amid renewed geopolitical tensions and a stronger U.S. dollar. Traders reacted to a 48-hour ultimatum from former President Trump toward Iran and a matching cautious response from Tehran, moves that briefly favored the dollar and knocked momentum out of gold’s recent rally.
After topping out near $5,000, gold plunged to around $4,250 before stabilizing and reclaiming roughly $4,400. Despite the setback, many analysts remain constructive on the metal’s long-term outlook — albeit with the caveat that more turbulence could come first.
Rashad Hajiyev, a vocal analyst on social media, said the market appears to have put in a bottom and expects a period of sideways trade before a renewed push higher. He projects a near-term rally toward $4,700 within roughly 8–9 weeks, followed by “another scary pullback” that should form a higher low. Hajiyev warned the earlier drawdown means his all-time-high timing will be delayed by about 6–8 weeks, but he still sees upside to $5,000 and beyond — even suggesting that once horizontal resistance is taken out, gold could head straight to $5,500.
What this means for crypto traders: macro-driven moves in gold often reflect broader risk sentiment and dollar strength — factors that also influence Bitcoin and other digital assets. Short-term volatility looks set to continue, but analysts expect the metal to reassert its bullish narrative after the next corrective phase.
In short: gold’s recent dip dented momentum but hasn’t shattered bullish expectations. Traders should brace for more choppy action, with a likely path of sideways trade, a rally toward $4.7k, a corrective higher low, and then a renewed push higher toward $5k–$5.5k if resistance is cleared.
Read more AI-generated news on: undefined/news
