Gold prices break through $3,700 to reach a new high! But should we be cautious of short-term pullback risks?
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On September 16, the gold price broke through USD 3,700 per ounce, setting a historical high with a cumulative increase of 40%. However, technical analysis indicates that gold is in the overbought range, and there may be a 5%-6% pullback risk in the short term. Nevertheless, analysts believe that the long-term bullish foundation is solid, and any pullback presents a buying opportunity. JP Morgan predicts that the gold price will reach USD 3,800 per ounce in the fourth quarter of 2025 and break through USD 4,000 per ounce in the first quarter of 2026. In extreme cases, the gold price may exceed USD 5,000 per ounce
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