Gold Struggles with Its All-Time Highs – Will the Rally Continue?

On January 30, 2025, gold reached a new all-time high near the $2,800 mark and has been holding around this level since then. But what could be the next move for traders?

A key characteristic of the current gold rally is that small pullbacks are quickly bought up. This pattern could persist despite the already elevated price levels.

Technical Outlook:
From a technical perspective, the bullish scenario remains intact as long as gold holds above $2,700 to $2,680. If this level holds, long entries could continue to be an interesting option. A realistic target would be the current all-time highs, with a potential long-term target of $3,000.

On the H1 chart, the $2,695 level acts as a key decision point. A drop below this level could open the door for further downside toward $2,612, making a short scenario possible in the short term.

Conclusion:
Gold is at a critical juncture. As long as the price holds above $2,680–$2,700, the bulls remain in control, with a potential move toward $3,000. However, a break below $2,695 could trigger a short-term correction.

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