Part 5/11:
Looking at technical analysis, gold appears to have stabilized around the $3,300 range from April to August before launching higher in September. If this momentum continues, gold could reach approximately $3,830 by the end of the year, possibly breaking the psychological $4,000 barrier in the first half of 2024. Some analysts, including Goldman Sachs, forecast prices over $4,000 if the current fundamental drivers persist.
More bullish scenarios suggest even higher targets, where a significant decline in Fed credibility or a surge of institutional inflows could push prices toward $4,500 to $5,000 per ounce. While these projections are optimistic, they highlight the potential upside if macroeconomic conditions tip further into uncertainty.