Gold prices still have room to increase, the 5,000 USD mark is not a stopping point

Mr. Rich Checkan - Chairman and CEO of Asset Strategies International affirmed that the current trend of gold is still upward. According to him, market correction is inevitable, but there is no sign that it will happen in the near future.

At some point, the market will definitely have a correction. However, I don't believe this will happen this week" - Mr. Checkan assessed.

According to this expert, the global geopolitical context is more tense than ever, which is an important factor supporting gold prices. In addition, concerns surrounding the possibility that the US Federal Reserve (Fed) will be affected by political pressures have not been completely resolved.

Mr. Checkan said that the high valuation of the stock market along with the strong increase in commodity groups shows that defensive cash flow is seeking gold as a safe haven. "All of those factors suggest that gold prices may continue to rise. The trend is always the companion of investors - until it is gone" - he said.

Sharing the same optimistic view, Mr. James Stanley - senior market strategist at Forex.com - said that there is currently no reason to reverse the view on gold.

It doesn't make sense to change the trend at this time" - Mr. Stanley emphasized. According to him, the psychological milestone of 5,000 USD/ounce may slow down the upward momentum of gold prices, causing the market to temporarily stagnate or appear a correction, but that does not mean that the upward trend has ended.

There is still no evidence that buying power has run out" - Mr. Stanley analyzed - "The way gold prices reacted when adjusting to around the 4,900 USD/ounce mark shows that the market still has a lot of room to increase. The current upward momentum seems to still have "fuel" to continue.

According to experts, although short-term corrections may appear as prices approach important psychological milestones, but in the context of prolonged geopolitical instability, concerns about monetary policy and cash flow seeking safe havens, the dominant trend of gold is still assessed as positive in the coming time.