analyst Priyanka Sachdeva of Philip Nova stated in a report that if the spot gold price continues to break through $3500, the future gold price may reach a range of $3600 - $3900 per ounce in the coming months.

She said that the aggressive U.S. tariff stance has increased geopolitical risks, fueling safe-haven investments. She mentioned that the driving factors such as rate cut expectations, political turmoil, and strong ETF demand have transformed gold from a tactical hedge into a strategic essential asset for many investors. Sachdeva believes that the target of $3800 per ounce may be the first clear psychological barrier for gold to surpass its current high.