Gold has experienced significant volatility following geopolitical tensions between the U.S. and Iran, causing its price to dip as low as $4,250 before stabilizing near $4,400. Despite recent pressure, analysts like Rashad Hajiyev remain bullish, forecasting a potential rally toward $4,700 followed by another pullback, with a longer-term target of $5,500 after a recovery period of several weeks.
Gold prices have faced heavy volatility amid evolving market dynamics and geopolitical uncertainty. The asset lost significant momentum, with its price ultimately plunging to $4,250.
The price has since stabilized, reclaiming the $4,400 mark but remains down from its all-time high of $5,000. Experts generally agree gold has further potential but may encounter another major pullback first.
Analyst Rashad Hajiyev suggested the recent low may have been established, as stated on social media. He anticipates sideways price action followed by a rally toward $4,700.
“Once gold completes the formation of a higher low, then the GAME is back on,” Hajiyev wrote. He noted the significant price damage could delay all-time high projections by 6-8 weeks.
Hajiyev has previously predicted gold will reach $5,000. He believes a subsequent move to $5,500 is possible after the asset overcomes key resistance levels.
“Once gold takes horizontal resistance, I believe, it is headed straight to $5.5k,” the analyst said. The recent pullbacks are seen as potentially shaping gold’s longer-term trajectory by attracting new capital.
