## Unveiling the Potential of Gold: What Investors Need to Know
At Extreme Investor Network, we pride ourselves on providing our readers with valuable insights into the stock market, trading, and all things Wall Street. Today, we’re diving into the exciting world of gold trading and exploring the potential higher targets that investors should keep an eye on.
### The Next Higher Target: 2,320
As gold continues its bullish momentum, investors are eyeing the next higher target at 2,320. This price zone is identified as a target from a recent falling wedge pattern, signaling a potential breakout and a sharp rally ahead. The breakout of the wedge led to rising prices, suggesting that we may see a repeat of the sharp rally that occurred before the wedge formed.
### Breaking Out of a Multi-Year Base
The recent strong rally and steady new record highs in gold confirm the breakout from a three-and-a-half-year base. Gold essentially traded in a large sideways range, with several false breakouts since the initial peak in 2020. However, this breakout seems to be the real deal, with prices continuing to rise after hitting new record highs. The confirmation of the base breakout has investors excited about the potential upside.
### Higher Targets on the Horizon: 2,354 and 2,457
With gold off to a strong start after breaking out of the 3.5-year base, higher targets are in sight. Above the 2,320 target, investors should keep an eye on the 2,354 price zone, which completes a 150% extension of the retracement of the correction beginning from the 2011 high. Further up, the 2,457 price point represents the 161.8% extension of that decline, making it a significant potential upside target for investors.
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