Why gold may—or may not—reach $3,060 next

Mark O'Donnell
- Research Analyst -
March 19, 2025
CFD, Commodities, Gold, Trading Opportunities

Gold is up 15.57% in 2025 after a strong 27.2% gain in 2024. If momentum continues, traders may target the upper parallel trendline near $3,060.
U.S. President Donald Trump and Russian President Vladimir Putin discussed steps toward a Ukraine peace deal, including a pause on attacks on energy infrastructure.

Gold is now up 15.57% in 2025 after gaining 27.2% in 2024.

If the current momentum continues, traders may target the upper parallel trendline near $3,060 and rising.

Safe-haven demand is a key driver of this rally, but what could disrupt it?

For one, U.S. President Donald Trump and Russian President Vladimir Putin spoke for 90 minutes today, agreeing on steps toward a peace deal in Ukraine, including a pause on attacks on energy infrastructure.

However, Putin declined to accept a broader 30-day ceasefire proposed by U.S. and Ukrainian officials.

For the exact date and time of these major economic events, import the BlackBull Markets Economic Calendar to receive alerts directly in your email inbox.

Economic Calendar

01:15 AM -

17-04-2025

01:45 AM

Industrial Production (MoM)

BoC Interest Rate Decision

BoC Monetary Policy Report

Canada

View all events →

Most Traded

Trading Opportunities

Gold hits record as Polymarket flips Fed call

April 17, 2025

Safe-haven currencies gain in uncertain trade landscape | FX Research

April 16, 2025

BOC decision – trading the uncertainty

April 16, 2025

Dollar dips on structural concerns | FX Research

April 15, 2025

Limited offer:

Get Free

The TraderKeys keyboard can take your gold trading to the next level, with preprogrammed hot keys enabling you easily execute and modify trades.

Start trading in less than 5 minutes

with no minimum deposit

AWARDED BY THE BEST

Download BlackBull SCA

Customer Support Contacts

English support: +64 9 558 5142

support@blackbull.com

BlackBull Markets is proud to be a Major Partner of the Starship Foundation supporting the vital work of Starship, New Zealand’s national children’s hospital.

BlackBull Markets and its associated entities have access to provide over 26000 tradable instruments to clients across all our Trading Platforms.

Black Bull Group Limited (trading name: BlackBull Markets) is a company registered and incorporated in New Zealand (Company Number 5463921, NZBN 9429041417799) located at Level 20, 188 Quay St Auckland 1010. Black Bull Group Limited is a registered Financial Services Provider (FSP403326).

BBG Limited (trading name: BlackBull Markets) is limited liability company incorporated and registered under the laws of Seychelles, with company number 857010-1 and a registered address at JUC Building, Office F7B, Providence Zone 18, Mahe, Seychelles. BlackBull Markets’ head office is in Auckland, New Zealand. The Company is authorised and regulated by the Financial Services Authority in Seychelles (“FSA”) under license number SD045 for the provision of the investment services.

BlackBull Group UK Limited is registered in the United Kingdom, Company Number – 9556804. Services provided by: BlackBull Group UK Limited (Company Number – 9556804) Address – 24 Ousebank Drive, Skelton, York, YO30 1ZB, England.

Black Bull Trade Limited is a New Zealand limited liability company incorporated and registered under the laws of New Zealand, with NZBN 9429049891041 and registered address Floor 20, 188 Quay Street, Auckland Central, Auckland 1010, New Zealand. Black Bull Trade is registered FSP1002113.

Risk Warning: Trading foreign exchange on margin carries a high level of risk and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to trade foreign exchange, you should carefully consider your investment objectives, level of experience, and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and, therefore, you should not invest money you cannot afford to lose. You should make yourself aware of all the risks associated with foreign exchange trading and seek advice from an independent financial advisor if you have any questions or concerns as to how a loss would affect your lifestyle.

BlackBull Markets does not accept client applications from Canada and the United States.

This offer of services is also not intended for residents of the European Union, the United Kingdom nor any non-resident of New Zealand.

The domain blackbull.com is registered under our company, Black Bull Global Limited.

Black Bull Group Limited is wholly owned by Black Bull Global Limited.

Join Now