Analysts' latest forecast: Gold prices will soon break through $2,500/ounce! What do you think?

On November 26, some analysts predict that global uncertainty and geopolitical tensions, coupled with a surge in investor demand for gold, could prompt international gold prices to reach a record $2,500 an ounce soon.

In fact, Wang Ye said that Finance has noticed that the international price of gold has risen by 3% in the past few weeks, and just this week, the price of gold broke through the key psychological threshold of $2,000 an ounce.

In this regard, Mark Newton, head of technical strategy at Fundstrat Global Advisors, commented that this rally in gold marks the highest daily closing rate so far this month, and any move above $2006.37/ounce this week will make it the highest weekly closing rate since the spring.

"Technically, it's pretty optimistic, and I expect gold to have started to return to all-time highs, and a rally above $2009.41 an ounce will lead gold into the $2060-2080 range," Newton said.

Finally, Newton said that once gold breaks through the resistance of $2,080, it will mean a clear technical breakout.

"Given falling real interest rates, rising cycles and ongoing geopolitical conflicts, I think gold prices will soon break through an all-time high of $2,500 an ounce," Mr. Newton added.

Just this week, the World Gold Council (WGC) shared a similar opinion.

According to WGC, geopolitical risks and safe-haven buying are driving gold prices higher, and it is expected that gold prices will rise further in the future.

In addition, former chief investment strategist at Bridgewater Fund, Rebecca Patterson, also believes that there are at least three factors that can help gold maintain its gains.

How do you feel about this? What do you think will happen to the price of gold next?