Bank of America calls for caution after gold exceeded $ 4,000 for the first time on Tuesday. Gold -term contracts have reached an intra -day record of $ 4,014.60 per ounce at 11:31 a.m., while cash in cash reached a historic summit of $ 3,985.36. Gold prices have won around 50 % this year, investors seeking refuge against geopolitical volatility, economic uncertainty, weakness of the dollar and tenacious inflation. But the Bofa warned investors that gold could enter into a “consolidation or correction” in the fourth quarter, while it faces “exhaustion of the upward trend”. ASSIR gold tends to rotate up or down when it reaches high round figures, Paul Ciana, technical strategist of BOFA, told its customers. “Since the 1970s, many areas of large round numbers have served as levels of support and/or resistance to the current trend of gold,” wrote Ciana. XAU = Mountain since the start of the year, gold in cash since the start of the year, gold prices have doubled since the beginning of 2024, exceeding $ 3,000 for ipy without problem, he told its customers. But cash in cash could reach a summit around $ 4,000, he said. The precious metal reached summits when he was exchanging 25 % above his mobile average in August 2020, August 2011, March 2008 and May 2006, wrote Ciana. The gold is currently exchanging 20 % above its 200-day mobile average, which suggests that it is close to a summit, he added. (Discover the best 2026 strategies in NYSE with Josh Brown and others on CNBC Pro Live. Tickets and information here.)
Gold has reached $ 4,000. The story shows that it is often triggered with round figures
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