Gold’s weekly trend remains firmly bullish after closing higher for a seventh straight week and setting a new all-time high. With no historical resistance above, the next key level is psychological — $4000.00.
Gold is trading well above its 52-week moving average at $3090.96, a sign of long-term strength but also a possible warning flag for overheating. The market is technically extended and increasingly vulnerable to a short-term pullback.
The clearest signal of near-term exhaustion would be a weekly closing price reversal top. Until that pattern emerges, the uptrend remains the dominant force.
Gold Price Forecast: Bullish Unless Weekly Reversal Confirms
The bias stays bullish heading into next week, driven by data paralysis at the Fed and persistent dollar weakness. With no resistance on the weekly chart, $4000.00 remains the immediate target.
