Following its intra-day peak of $3,500/oz on 22 April 2025, gold has been range-bound between $3,180 and $3,400/oz. The lower end aligns with the 76.4% Fibonacci retracement level, and although our forecasts suggest a potential breach below this level in the short term, we anticipate strong support near the 61.8% level ($3,024/oz), paving the way for a rebound. By Q2 2026, we project gold could reach $3,850/oz, based on consensus macroeconomic inputs. We see the current period as a “loading the spring” phase, setting the stage for a powerful upward movement in gold prices. Source: WisdomTree, Bloomberg. 10 July 2024 ... (full story)