Gold has successfully broken through the key resistance level of $2650.

After last week's significant sell-off, the rebound of gold has led more and more analysts to believe that the rise of precious metals is not yet over. This week, Goldman Sachs reiterated its forecast for gold prices to reach $3000, and it is not only Goldman Sachs that is optimistic about the new high in gold prices in 2025.

Julia Khandoshko, CEO of Mind Money, stated that the recent decline in gold prices is just a correction, and gold prices will soon return to the historical high of $2800 set last month, reaching $3000 by 2025.

Khandashko believes that although gold is volatile in the short term, its long-term prospects remain unchanged. The main factors driving gold prices, such as geopolitical tensions and global inflation, have not changed and will continue to drive up gold prices. These trends will not change due to the results of the US election.

Analysts have pointed out that although gold has achieved significant gains this year, many investors are still adopting a wait-and-see attitude. The demand from Western investors gradually increased only when the Federal Reserve was ready to begin its current easing cycle.

However, Khandoshko stated that the recent correction in gold has provided investors with an opportunity to enter the market. Despite short-term fluctuations in the market, the overall upward trend of gold will continue, and these short-term fluctuations should not be overreacted.

The sell-off of gold began after American voters elected Trump as the next president. Analysts point out that Trump's "America First" policy has provided new impetus for US bond yields and the US dollar, which are the two major obstacles to gold.

However, Khandashko does not believe that Trump's policies will support the US dollar before 2025. She said, "I don't think Trump's presidency will bring significant changes. The Fed's stance and overall inflation expectations may remain stable. Trump may increase market volatility, but this will not change the larger economic trend. In fact, the increase in volatility may not necessarily be a bad thing for gold - in uncertain situations, gold will still remain attractive

Daily chart of spot gold