XAU/USD surges past $3,660, eyes further gains amid strong technical breakout
Gold (XAU/USD) has reached a new all-time high, climbing above $3,660 per ounce and extending its remarkable rally. The precious metal has been on a sustained uptrend over the past weeks, fueled by safe-haven demand and technical strength.
The chart highlights a powerful bullish structure, with gold breaking through successive resistance zones around $3,420 and $3,580. These levels have now turned into key support areas, providing a safety net if price momentum cools.
Currently, gold is trading at $3,663, up more than 10% from recent lows. An upward trendline, extending from earlier consolidation phases, shows the asset firmly aligned with bullish market sentiment.
With gold setting fresh records, clear resistance levels are limited. The next potential psychological target lies near $3,700, while extended projections could push the metal toward $3,750–$3,800 if momentum continues.
However, technical indicators suggest the rally may be nearing overextended conditions. The sharp rise without significant consolidation could lead to short-term corrections, though these may be absorbed by strong demand at support levels.
According to BITX experts, “Investors should watch $3,580 closely. As long as this level holds, dips may present buying opportunities in anticipation of higher targets.”
Gold’s surge reflects broader macroeconomic dynamics, with investors seeking safety amid global uncertainty. The move to new highs underlines strong institutional demand and heightened interest from retail traders.
If momentum persists, $3,700 and beyond appear achievable in the near term. Conversely, a failure to sustain above $3,580 could trigger a retest of the $3,420 support zone.
Disclaimer
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