---
title: "Gold prices break through $3,700 to reach a new high! But should we be cautious of short-term pullback risks?"
type: "News"
locale: "en"
url: "https://longbridge.com/en/news/257661721.md"
description: "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"
datetime: "2025-09-17T06:22:50.000Z"
locales:
  - [zh-CN](https://longbridge.com/zh-CN/news/257661721.md)
  - [en](https://longbridge.com/en/news/257661721.md)
  - [zh-HK](https://longbridge.com/zh-HK/news/257661721.md)
---

> Supported Languages: [简体中文](https://longbridge.com/zh-CN/news/257661721.md) | [繁體中文](https://longbridge.com/zh-HK/news/257661721.md)


# Gold prices break through $3,700 to reach a new high! But should we be cautious of short-term pullback risks?

Investment Insights - Gold has been in the overbought zone for several days, and the risk of a price pullback is increasing in the short term.

On September 16, the gold price rose to $3,703 per ounce, setting a new historical high. Since the beginning of 2025, the gold price has cumulatively increased by 40%.

What will the future trend of gold prices be?

From a technical perspective, the RSI indicator shows that gold has been in the overbought zone for several days, which means the risk of a price pullback is increasing.

"Gold is currently in the overbought area, and a pullback of 5%-6% may occur in the short term," said Renisha Chainani, research director at Augmont. "However, after that, it will consolidate and rise again."

【Source: TradingView; Gold price trend in 2025】

Analysts generally believe that the foundation of a long-term bull market for gold remains solid, and any pullback is a good buying opportunity.

JP Morgan predicts that under the influence of the Federal Reserve's interest rate cut cycle and investor demand, the average gold price will reach $3,800 per ounce in the fourth quarter of 2025 and break through $4,000 per ounce in the first quarter of 2026.

In extreme scenarios (funds flowing from U.S. Treasuries to gold), the gold price could exceed $5,000 per ounce.

This assumption aligns with Goldman Sachs, which believes that if 1% of individual investors holding U.S. Treasuries shift their funds to gold, the gold price will rise to nearly $5,000 per ounce

### Related Stocks

- [JPMorgan Chase & Co. (JPM.US)](https://longbridge.com/en/quote/JPM.US.md)

## Related News & Research

- [Tinci Materials' Hong Kong IPO Likely To Raise Over $1B](https://longbridge.com/en/news/280992312.md)
- [JP Morgan cuts BoE rate hike view after Bailey flags market risks](https://longbridge.com/en/news/281401698.md)
- [Mitsubishi adopts JPMorgan blockchain for corporate payments](https://longbridge.com/en/news/281069413.md)
- [JPMorgan Chase & Co. Raises Stake in Brookfield Infrastructure Partners LP $BIP](https://longbridge.com/en/news/280598701.md)
- [JPMorgan's Big Deal Isn't Going Smoothly](https://longbridge.com/en/news/281066320.md)