Why Is Gold’s Next Target 4,599?Why Is Gold’s Next Target 4,599?
Since April 2025, the Fibonacci retracements I’ve been tracking on gold have been working in a very orderly and clean manner. Each pullback respected key technical levels before the trend resumed.
The uptrend that started on August 27 has remained fully intact and continues with strong momentum. I expect this momentum to build into the year-end close, supported by both technical and fundamental factors.
What’s Happening on the Fundamental Side?
Markets are clearly shifting into risk-off mode.
Rising tensions between the US and Venezuela
Escalating Russia–Ukraine geopolitical stress
The growing risk of a new global chip crisis
All of these factors increase uncertainty. And when uncertainty rises, capital naturally flows toward safe-haven assets — with gold at the top of that list.
What Does the Technical Picture Say?
Earlier this week, gold broke above the 4,338 resistance with strong volume
This breakout confirmed that the broader uptrend remains healthy and intact
From here, the technical roadmap points to two main upside targets:
🎯 First target: 4,599
🎯 Second target: 4,905
These levels align well with both Fibonacci projections and the current trend structure.
Which Level Matters on the Downside?
🔻 4,000 remains the key support.
As long as price holds above this level, the broader trend remains valid.
Conclusion
Gold currently has both technical and fundamental tailwinds.
As geopolitical risks rise and uncertainty deepens, 4,599 stands out not just as a technical target, but as a natural market reaction.
The trend is strong. Momentum is intact.
For now, gold still appears to have more to say.
