Gold Hits US$4,650, Will the Next Price Be US$4,750 or US$4,886?

Gold prices have once again attracted attention after moving above US$4,650 and showing strong bullish momentum.

The increase took place gradually, from the US$4,379–US$4,400 area, then passed US$4,450, US$4,500, US$4,550 until testing US$4,650.

Now the main question for the market is no longer whether gold can recover, but how far the trend can continue.

Technical analysis places US$4,750 as the initial target if the price can hold and close consistently above US$4,650, while US$4,886 is the next structural resistance.

Key Takeaways

• The gold price of US$4,650 is a key level for determining the continuation of bullish momentum.

• If the breakout is confirmed, the next gold price targets are at US$4,750 and then US$4,886.

• Technical conditions are starting to become overbought, so a correction is still possible even though the main trend remains bullish.

US$4,650 Becomes the Key Level for Gold Prices

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The latest gold price movements show a gradual upward pattern, not a one-off spike.

After passing through the US$4,379–US$4,400 area, gold moved to US$4,450, then broke through US$4,500 and US$4,550 before buyers pushed the price up to US$4,650.

According to technical analysis cited by CoinTurk, US$4,600 is now a key benchmark and new support.

As long as gold prices can stay above this zone, buyers still have control and the opportunity to continue pushing towards higher resistance.

The latest market data also shows gold is still around that area.

On August 24, XAU/USD recorded a high of US$4,653 before settling around US$4,648.

This means that the US$4,650 level is not just a psychological figure.

The price's ability to maintain this area will determine whether the next rise will be a valid breakout or end in rejection.

Read Also:Will Gold Prices Continue to Rise? Predictions and Driving Factors

Next Gold Price Target: US$4,750

If gold prices manage to close consistently above US$4,650, technical analysis places US$4,750 as the next target.

This level is an important resistance that must be broken before the market can open up space towards higher structural targets.

This scenario makes US$4,650 serve as a sort of confirmation point.

A breakout with strong momentum will indicate that buyers were not only able to touch the resistance, but also maintain the price above it.

However, the US$4,750 target does not mean the price will definitely reach it.

The market may experience a pullback first, especially after a long rally that widens the price gap from the moving average.

Therefore, investors following today's gold price should pay attention to how the daily candle closes around US$4,650, not just whether the price has touched that level.

Why is US$4,886 an Important Target?

Above US$4,750, gold price analysis shifts to US$4,886. This level is considered structural resistance within the Elliott Wave framework used by MCO Global.

A breakout of US$4,886 would provide additional confirmation of a longer-term bullish phase.

The bullish scenario becomes stronger if gold is able to maintain the US$4,377 level as a key boundary of the previous structure.

Conversely, a drop below US$4,377 could increase the risk of a correction towards US$3,742.

Thus, gold price prediction has several important stages.

US$4,650 is the initial trigger, US$4,750 is the intermediate target, while US$4,886 is the structural resistance that determines whether the bullish trend can develop further.

Read Also: Gold and Silver Prices Rise, Is the US Dollar the Main Driver?

Gold Momentum Strong, But Overbought Risks Rising

The rise in gold prices doesn't come without risks. One analysis cited by CoinTurk shows that momentum indicators are starting to reach overbought levels. The price is also showing a widening gap between itself and the short-term moving average.

Overbought conditions don't automatically mean a bearish trend reversal. In a strong uptrend, the indicator can remain in this zone for quite some time before a correction occurs.

The problem is that the risk-reward for new buyers becomes less attractive once prices are near the peak. If profit-taking occurs, gold could retest the US$4,600 support level before determining its next direction.

Therefore, chasing the price after a breakout requires greater attention to volume, daily closes, and the ability of the new support to withstand selling pressure.

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Gold Support to Watch Out For

US$4,600 serves as gold's primary support if a correction occurs from current levels. As long as this area holds, the short-term bullish structure remains relatively intact.

If US$4,600 fails to hold, the US$4,500–US$4,524 area becomes the next support area. This zone previously served as a demand area after the price broke through previous resistance.

Lower still, the US$4,435–US$4,450 zone is also crucial. This area previously served as a consolidation point before gold resumed its upward movement.

A close below US$4,435 would call the short-term bullish structure into question and direct attention back to the US$4,379–US$4,400 breakout zone.

Read also: Investment Strategy When Gold Prices Drop: What Should You Do?

What Could Push Gold Higher?

Gold's momentum is also supported by macro factors and safe haven demand.

On August 24, the ICDX recorded a gold price of around US$4,609 per troy ounce, with the weakening US dollar, uncertainty over US economic policy, and US-Iran geopolitical risks being some of the supporting factors.

However, gold movements remain sensitive to US monetary policy expectations.

Changes in interest rate expectations can affect the dollar and bond yields, which in turn impact the appeal of gold.

That is why technical levels and fundamental factors need to be read together.

A breakout of US$4,650 would be more convincing if supported by macro sentiment that remains favorable for safe-haven assets.

Could Gold Reach US$4,886?

Technically, the path to US$4,886 is open if gold manages to clear two major resistances. First, the price needs to sustain a breakout above US$4,650.

After that, US$4,750 must be broken and maintained so that the structural target of US$4,886 has a stronger foundation.

However, a bearish scenario cannot be ignored.

A rejection at US$4,650 could send the price back to US$4,600. If that support fails, the correction could extend to US$4,500–US$4,524 or even US$4,435–US$4,450.

Thus, gold price targets should not be understood as a straight path. The market could move up, retest, and then resume rallying if buyers re-enter the support area.

Read also: Is It More Profitable to Buy Young or Old Gold? Here's a Complete Analysis!

Conclusion

Gold prices are now at a key point after testing US$4,650.

If it can hold and record a consistent close above that level, US$4,750 becomes the next target before attention turns to US$4,886.

Conversely, a breakout failure could see the price retest US$4,600.

Overbought conditions also require consideration of the risk of a correction, even though the trend structure still shows bullish strength.

For investors, the US$4,650, US$4,750, US$4,886, and US$4,600 support areas are levels worth monitoring.

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FAQ

What is the current price of gold?

The latest report shows the price of gold hovering around US$4,648 per troy ounce on August 24, 2026, after briefly touching US$4,653.

What is the gold price target after US$4,650?

If a breakout of US$4,650 is confirmed, the next target is US$4,750. Once that level is broken, US$4,886 becomes the next structural target.

Can gold reach US$4,886?

Technically, US$4,886 is a bullish target if gold can maintain the US$4,750 level after breaking out of US$4,650. However, this target is not a guarantee that the price will be reached.

What is the nearest gold support?

US$4,600 is gold's nearest support level. If this level is broken below, the next levels of concern will be US$4,500–US$4,524 and US$4,435–US$4,450.

Is the current gold condition overbought?

Several technical indicators point to overbought conditions. However, this doesn't automatically signal a trend reversal, as momentum can remain strong within a bullish trend.