gold surged higher, breaking multiple peaks

Currently, gold prices are being supported by information that the US Federal Reserve (Fed) has ended the monetary tightening cycle and may switch to an easing cycle next year. In the context of a weakening USD and geopolitical concerns, investors still look to gold as a haven.

With the USD trend falling, it is "just a matter of time" for gold to reach an all-time high. The time for gold to reach a new peak could be at the end of this year or early next year.

In addition, the increased demand for gold jewelry at the end of the year in some countries also supports gold prices. In addition, the need to buy gold from central banks in other countries also helps precious metal prices go up.

Currently, investors are still waiting for signals from the US and Chinese economies in the first half of next year to determine clearer trends for the markets. This factor may prevent gold from making a strong breakthrough in the next few months, even though this is the peak season for gold consumption.

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