01-29-2026, 04:53 AM
Gold and the Endless Growth Limits Ahead
Looking at longer timeframes, such as monthly and weekly charts, even though the price is fully in overbought territory, there hasn't been any clear signal or evidence of a price ceiling or a market trend reversal yet. If the rise continues, the next target for buyers could be the $5490 resistance level.
Gold and silver, as low-risk assets, remain the focus of traders and governments due to complex geopolitical risks, economic uncertainties, and pressure on the dollar, which is seen as a weaker currency.
This pressure on the US dollar provides stronger support for gold.
These factors are continuously increasing demand among traders, and we are seeing new highs in gold. Given the strong fundamental backing for gold, analysts and forecasts point to further price increases in 2026, with expectations reaching $6000 per ounce.
In a bearish scenario, since there are no clear technical signals for a downturn, we still need to wait for confirmation of price ceilings on shorter timeframes, such as the 4-hour or daily charts. On the other hand, a key fundamental trigger that could halt gold's rise may emerge during the FOMC session. If the Federal Reserve weakens market expectations for a rate cut, it could trigger a shift into a corrective phase for gold.
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