Victoria Bazir
⬤ Gold continues its powerful upward move after breaking out of a multi-year cup base, signaling a fresh phase of strength in the precious metals market. The recent push through the $2,100 area marks a transition into a steep upside cycle. Chart analysis shows XAU pushing decisively higher in 2025, with weekly momentum lifting prices well above previous consolidation zones.
⬤ The technical setup reveals an ascending broadening wedge that's been developing for over a decade. Gold first touched the upper boundary during the 2011 peak, then worked through an extended base before approaching the same region in 2024. The breakout above this key horizontal level reflects a major shift in positioning, with gold now accelerating toward the upper wedge channel. With spot prices recently above $4,100, the current move mirrors earlier vertical expansion phases within the same pattern.
⬤ The broader formation stays intact, with the next major target near the upper wedge line around $5,000. The chart also shows a clean retest of the breakout zone before the latest surge, confirming that the metal has entered a markup phase. Gold's rise since late 2024 fits the wedge's upward-expanding structure, showing renewed strength as buyers drive prices toward projected long-term targets.
⬤ This breakout carries real implications for the commodity space. Gold's move through a key long-term ceiling removes a barrier that held back price action for years. The confirmed multi-year base adds weight to the view that macro conditions continue supporting momentum. As XAU approaches its next technical thresholds, the wedge pattern reinforces gold's role as a key market indicator during periods of economic uncertainty.
Victoria Bazir
