Gold Is Targeting A Solid $3200 Price Spot: Here's When It Can Claim It?

Gold is currently putting all its efforts into breaking beyond the $2665 price mark. The current positioning of XAU is met with intense resistance, disabling the asset from breaking new boundaries. In this wake, Gold is also eyeing a new possible target, which could help XAU claim new price highs. Here’s how gold could hit $3200 in the near future.

Also Read: Shift in Bitcoin Power: U.S. Entities Surpass Offshore Holdings by 65%

Analyst Predicts New Price Trajectory For Gold

gold us dollar
Source: FXstreet

Per Rashad Hajiyev, a notable asset analyst, Gold is already surging ahead, targeting a new price spot, a rather ambitious one in a new attempt. The expert clarified how Gold is putting all its efforts into breaking the $2665 price level that it’s currently in. Once it moves behind the aforementioned price spot, the asset could catapult to new highs, as the expert cautiously remarked.

Also Read: Top 3 Cryptocurrencies You Should Watch This Weekend

“Gold has been trying hard to overcome the $2,665 level for the past week. Once it breaks out, there is no turning back…

Similarly, Hajiyev later clarified how XAU is already on the verge of hitting $3200 but may ultimately find some pressure when it comes to claiming the $2690 price level.

Once the said level breaks, gold may hit a new price spot of $3200, rallying 19% in the process.

When Can XAU Hit This Coveted Price Spot?

As per Hajiyev, the precious yellow metal can surge and rally 19% within the next 2 months, provided the market momentum helps Gold ace new highs.

Also Read: Ethereum Price Prediction: ETH To Hit $4,000 by End of January?

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