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Gold above 5,350 after hitting last week’s targets

Breakout strengthens bullish momentum toward new highs

In our February 27 report, we highlighted that holding above 5,220 would support upside targets at 5,300 and 5,350. This scenario has now materialized, as gold extended its rally and climbed to 5,389, surpassing previous technical objectives and confirming the strength of the ongoing uptrend.

The move reflects sustained safe-haven inflows amid rising geopolitical tensions, in addition to strong technical support following last week’s solid close above 5,250.

Technically, sustained trading above 5,350 reinforces the probability of further upside toward 5,450 and potentially 5,500 in the near term.

The 5,300 level has now shifted into key short-term support. Any pullback toward 5,320–5,300 may be considered a healthy technical retest, provided that 5,220 remains intact.

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