Gold Analysis & Targets

Globe and Mail

19-05-2025

Gold Analysis
(GCM25)
From last week,
Monday it got right back above 3300.00 and then hit the short term target of 78.6% at 3446.00 which is also a major Gann square. A failure to make a new high in the area of a 78.6% retracement can be the end of the Bull market, or just send it back 78.6% of where it just came from based on the ONE 44 78.6% rule. Friday's low was just short of 78.6% the other way at 3268.00, so this will be the key level for the next week.
Use 3268.00 as the swing point for the week.
Below it, the short term target is 3164.40, this is a major Gann square and 38.2% back to the 11/14/25 low. The longer term target is 23.6% back to the 2022 low at 3070.50, this is also a major Gann square. The long term target is also the long term swing point at 2810.00, this 38.2% back to the 2022 low and a major Gann square.
The failure to make a new high in the area of a 78.6% retracement (also a major Gann square) hit the first target of 78.6% the other way at 3268.00 per the ONE44 78.6% rule and we will now see if it is also the end of the Bull run for now. It traded below the short term target of 3164.40, but never closed below it, this was 38.2% back to the 11/14/24 low and a major Gann square. This will be the key level for next week.
Use 3164.40 as the swing point for the week.
Above it, being a 38.2% retracement, holding it can send this market to a new high per the ONE44 38.2% rule. The longer term target is 78.6% back to the 4/22/25 high at 4340.00. The short term target area is the 3356.70 major Gann square and 61.8% back to the same high at 3366.00. Any rally that can't get above 38.2% of the same move at 3273.00 is very negative and a new low can quickly follow.
Below it, the short term target is 23.6% back to the 2022 low at 3070.50, this is also a major Gann square. The long term target is also the long term swing point at 2810.00, this 38.2% back to the 2022 low and a major Gann square, before then there are major Gann squares to look for support and then use as the swing point when closed below at 2982.20 and 2896.20.
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