Key Takeaways
Gold surged past $3,400, breaking four months of resistance.
Matrixport forecasts the metal could test $4,000 next, after delivering a 100% return since 2023.
Rising prices reflect increased allocation to both gold and Bitcoin as investors hedge against uncertainty.
Gold Surges to Fresh Highs
Gold has climbed above $3,400, overcoming key resistance levels for the first time in four months, according to a market update from Matrixport. Analysts now expect prices to test the $4,000 level, extending a two-year rally.
Matrixport noted that its 2023 recommendation to allocate to gold — when the asset was near $2,000 — has now yielded a 100% return, with prices reaching around $3,600 in recent sessions.
Bitcoin-Gold Correlation Back in Focus
The firm highlighted that the continued strength of gold comes despite the absence of significant monetary easing, suggesting that forward-looking investors are diversifying into both gold and Bitcoin.
While Bitcoin remains in a consolidation phase, Matrixport reaffirmed its long-term bullish outlook, framing the two assets as complementary hedges in a shifting macro environment.
