Gold’s Bull Run 2024: What You Need to Know
Metal‑madness is running full‑tilt since the start of 2024. With the U.S. economy pulling its breath out more swiftly than a sitcom hero, and global flashpoints adding extra drama, investors have been stacking up golden dollars.
Saqib Iqbal – Gold’s Oracle on the Trading.Biz Stage
Saqib Iqbal has been calling gold moves like a seasoned weather forecaster—only he’s allergic to the mundane. In March, he tipped that gold would break the $2,200 ceiling. Prediction check‑mate: the metal hit a club‑house record of $2,222 on March 21.
April Forecast: A Heady Range
- Highs: $2,200 – a sweet spot for the bullish crowd
- Lows: $2,140 – still a solid floor for tight traders
- Volatility: “More jittery than a cat on a hot tin roof” above the Fed’s April huddle, but a dip of more than 5% is off the table.
Why Gold Is on a Wild Roller‑Coaster
Every price spike has a soundtrack. The recent surge was orchestrated by U.S. economic data and the crowd’s appetite for safe‑haven gold while it shyly let other commodities run for the snack bar. The Federal Reserve’s meeting, where “Fed Chair Jerome Powell cemented the intent to cut rates thrice in 2024, fueled the rally.
What Saqib Isn’t Saying
He’s got a clear vision: no dramatic crash on the horizon. While gold nudged out of its three‑year trading zone, any pullback will be a brief hiccup – no more than 3% to 6% fall.
Chart‑Talk: The Next Milestones
After breaking the $2,148 hold‑out in December 2023, the next target is the cool $2,250 mark. If the metal surfs past this, you’re staring at the $2,300 horizon.
Conversely, should the price dip below $2,150 it could take a trip to $2,100 – but expect a quick bounce back as the U.S. disinflation story stays on the money.
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