Gold storms beyond 5,000 on safe‑haven rush

Gold is extending last week’s historic rally – its strongest weekly advance since the 2008 global financial crisis – as investors continue to flock to the safe‑haven metal amid intensifying geopolitical turmoil. After decisively clearing the 5,000 milestone and reaching a new record near 5,111, further upside appears likely, with both fundamentals and technicals supporting the move.

The stochastics, the RSI, and the MACD are all pushing aggressively higher, reflecting strong bullish momentum. The first two sit deep in overbought territory but have yet to show any signs of reversal, underscoring persistent buying pressure.

A sustained break above 5,111 would turn attention to the 261.8% Fibonacci extension of the October selloff at 5,182. Beyond that, with price action entering uncharted territory, the next psychological milestone lies near 5,300.

However, if gold reverses lower and slips back below 5,000, strong support is expected around the 200% Fibonacci extension at 4,876, followed by the 161.8% level at 4,687. The 4,570 region could then act as a floor for losses, sitting just below the 20‑day simple moving average (SMA), followed by the key 4,500 threshold, which aligns with the short‑term ascending trendline. A break beneath this latter zone would risk shifting the prevailing bullish bias to neutral.

In summary, gold appears well‑positioned to extend its impressive year‑to‑date rally of more than 17% and its six‑day winning streak. Still, periodic profit‑taking could trigger short‑lived pullbacks, with downside likely to remain cushioned within the 4,800-5,000 region.