Last week, the gold market experienced ups and downs, but the overall upward trend remained unchanged. Although there was a pullback on Friday and three consecutive trading days closed with a cross line, showing a volatile pattern, the weekly line successfully closed positive, and the daily and weekly lines achieved a remarkable performance of nine consecutive positive days. Entering 2025, in less than two months, the price of gold has risen by as much as 12% and has broken historical highs for 10 consecutive times.

At the beginning of the week, a series of bad news, such as the peace talks on the Russia-Ukraine conflict and the resolution of the Federal Reserve on Wednesday, emerged frequently. However, the gold price did not fall significantly because of this. On Thursday, the price of gold surged again, breaking above $2955. Although the second half of the week ended in volatility and the trend fluctuated on Friday, the market still has bullish conditions. In a trend market, especially in a bull market, the negative impact of negative news is infinitely reduced, while positive news is amplified. News that follows the trend will accelerate its operation, while news that goes against the trend may have a short-term impact on prices, but it is difficult to change the direction of the trend.

From the perspective of the price rhythm of the market, the rebound since the low point of 2583 has steadily advanced, and the bullish trend is fully demonstrated. Looking back at the two waves of gold's rise in 2024, each wave saw an increase of around $300 after breaking through. The first wave broke through the high point of $2144 and surged to around $2450, while the second wave broke through $2450 and hit the previous historical high of $2790. After breaking through $2790, the current gold price has only increased by about $160, indicating significant potential for further growth.

The pause in short-term upward trend is not a turning point in the trend, but rather an accumulation of energy during the upward process. Even if the upward period is long and there is a brief adjustment, it is still accumulating strength for subsequent upward movements. Therefore, investors do not need to overly worry about short-term volatility, as volatility is often a prelude to better gains.

Looking ahead to next week, a bullish outlook remains the big idea for the gold market. In the short term, the 2920 front line has formed a clear support band, and it is expected to continue to rise around this support next week. In addition, the 2882 position, which was supported twice in the early stages, is not only a key point for the transition between the top and bottom, but also the current location of the double bottom. As long as this position is not breached, even if the high-level oscillation lasts for a long time, the overall upward trend will not be disrupted. As long as the price remains above 2882, there will be no temporary peak, and short-term adjustments can be considered as normal corrections.

Overall, after experiencing last week's volatility, the gold market still has ample room for further growth. Investors can seize the opportunity to go long in a pullback and follow the bull market trend.