Gold (XAU/USD) Price Prediction: Gold Climbs $5,000–$5,200 Amid Volatile Zig-Zag Surge, Rua Gold ($RUA) Shows Technical Strength

The precious metal has experienced irregular upward movements over the past weeks, making it challenging for traders to identify clear entry points. Despite this volatility, gold continues to attract institutional and retail attention due to its traditional role as a safe-haven asset. While current prices are elevated, historical trends suggest such levels are possible in scenarios involving sustained U.S. dollar weakness, rising inflation expectations, or significant central bank purchases.

Gold Price Today: Choppy Gains and Investor Caution

Financial analyst Rashad Hajiyev, who specializes in commodities technical analysis, notes that gold is “slowly grinding higher in a zig-zag pattern,” emphasizing the difficulty of trading amid unclear directional trends. Over the past year, gold has gained approximately 72%, supported by geopolitical risks and central bank demand. Hajiyev adds that the current volatility has caused losses for some traders, a reminder of gold’s unpredictable short-term behavior.

Rashad Hajiyev notes gold’s volatile rise to $5,000, highlighting trading challenges amid bullish momentum and strong central bank demand. Source: Rashad Hajiyev via X

Spot gold prices recently reached $5,019 per ounce, consistent with earlier forecasts. Market participants are observing heightened volatility due to factors such as CME margin adjustments and brief sell-offs. Historically, similar sharp moves after margin hikes often result in short-term corrections before longer-term trends reassert themselves, indicating that cautious, well-informed positioning is critical.

Technical Analysis: Bullish Momentum Amid Key Levels

From a technical perspective, gold is forming a harmonic pattern on the one-hour chart, suggesting potential continuation in the near term. Key resistance levels are currently at $5,050, $5,095, and $5,100, while support lies near $5,000, $4,950, and $4,930. Analysts note that a clean breakout above resistance, followed by a retest, could reinforce bullish momentum.

Gold shows a bullish harmonic pattern on the 1-hour chart, with a breakout above resistance indicating potential continuation. Source: Elite_Technical_Analysis on TradingView

Dr. Potassium, a commodities strategist focused on short-term gold movements, commented that gold’s rebound from late January lows may support highs near $5,698 by late February, assuming macro conditions remain favorable.

Dr. Potassium notes gold hit $5,019, matching his prior breakout forecast, with further upside possible due to USD weakness and upcoming U.S. jobs data. Source: Dr. Potassium via X

However, such technical patterns are higher-risk signals during periods of macro-driven volatility, and failure to break resistance could trigger a pullback toward key support zones.

Macro Outlook: Gold Amid Economic Uncertainty

Gold’s recent movement is shaped by broader economic factors. Upcoming U.S. employment and inflation data (CPI/PCE) could amplify short-term volatility, while geopolitical developments—including U.S.–Iran negotiations and Supreme Court rulings on trade tariffs—contribute to uncertainty.

Historically, gold tends to strengthen during periods of U.S. dollar weakness or policy uncertainty, acting as both a hedge against inflation and a safe-haven asset. Central bank purchasing and ETF inflows further support the structural demand outlook. Gold prices recovered above 5,000, consolidating amid USD weakness and strong central bank demand, highlighting gold’s enduring appeal during turbulent macroeconomic conditions.

Observational Trading Patterns

While specific buy and sell zones have been cited by traders, it is important to frame them as observational insights rather than actionable recommendations. For example:

• Traders have shown interest near $4,834–$4,836 for short-term rebounds.

• Resistance activity has emerged around $5,140–$5,142.

Gold climbed to $5,035, buoyed by a weaker USD and central bank demand, stabilizing above $5,000. Source: Nova-Scalper on TradingView

Historically, short-term zig-zag rallies of this magnitude often experience intermittent pullbacks, particularly when macro factors, such as rate announcements or inflation surprises, create uncertainty. This underscores the importance of separating short-term tactical moves from longer-term structural trends.

Rua Gold ($RUA) Gains Momentum Ahead of Key Resistance

Rua Gold Inc. (ticker $RUA) is showing renewed technical strength, with the stock trading around 1.22 CAD as of February 9, 2026, up more than 7% on the day. The broader technical outlook is rated Strong Buy, supported by improving short-term momentum and a recent buy trend across weekly and monthly timeframes, even as volatility remains relatively contained. From a trend perspective, price action is holding above key short-term moving averages (MA5–MA20), signaling constructive near-term momentum.

$RUA was trading at around $1.22, up 7.96% in the last 24 hours at press time. Source: TradingView

However, longer-term averages around the 1.23–1.26 CAD zone continue to act as overhead resistance, suggesting that further upside may require sustained follow-through. A decisive push above the MA50 area near 1.21 CAD would strengthen the bullish case and open the door to higher levels.

Momentum indicators remain mixed but generally supportive. RSI is neutral, avoiding exhaustion, while trend-strength signals such as ADX and CCI point to a developing uptrend. Some oscillators are flashing overbought warnings, hinting at possible short-term consolidation, but the broader structure favors buying pullbacks rather than fading strength. Overall, RUA’s technical setup suggests upside potential remains intact, with resistance near 1.25–1.50 CAD as the next key area to watch.

Looking Ahead: Gold Price Outlook

Gold’s outlook remains constructive but highly sensitive to macroeconomic developments. While short-term fluctuations are likely, structural drivers—such as central bank buying, safe-haven demand, and inflation hedging—support the metal’s long-term relevance.

Gold’s medium-term trend is bullish, consolidating near $5,000–$5,050, with a breakout potentially reaching $5,200–$5,300 or a pullback to $4,700–$4,850. Source: Chum_trades on TradingView

In summary, gold continues to serve dual roles: as a speculative asset in volatile trading ranges and as a reliable hedge amid economic uncertainty. Historical patterns and macro context suggest that while elevated levels are plausible, investors should approach short-term fluctuations with caution and consider broader structural drivers when assessing market positioning.