Saad Ullah
Holy cow, what a day for gold! If you've been watching the precious metals market lately, you probably noticed that gold (XAU) has been on an absolute tear, and Monday just took things to a whole new level. We're talking about some serious fireworks here.
It's not just some random spike either - this has been building for a while now, and it looks like all the pieces are finally coming together for gold bulls.
Gold (XAU) Surges Toward All-Time High
Gold August ’25 futures (XAU) soared to $3,462.5 on Monday, June 16th, 2025, gaining $97.0 (+2.88%) on the day. The rally places the precious metal within striking distance of its highest closing price in history, according to a trader’s post that quickly caught fire on social media.
The strong upside momentum reflects heightened investor interest in safe-haven assets amid ongoing global uncertainties and central bank buying. The price hit a new resistance level at $3,464.1, as shown in the chart, with analysts now eyeing further gains if the breakout holds.
Traders Watch for a Historic Gold (XAU) Close
With inflationary pressures still looming and geopolitical risks intensifying, demand for gold (XAU) continues to build. Since early 2024, gold has been on a powerful upward trajectory, nearly doubling in price from below $2,000 to the current level near $3,462.5.
If momentum continues, gold could firmly close above the all-time high threshold and open the door to even more aggressive long positions. Commodity desks are already forecasting the next leg toward $3,500, as long as macroeconomic conditions remain supportive.
Saad Ullah
