Gold Breaks $4,060 — Is $6,000 Next?

In early Asian-hours Monday, spot gold (XAU/USD) shattered previous records, briefly punching through $4,060/oz, setting a new all-time high before easing back near $4,050.

At the same time, copper futures climbed over 2%, oil prices rose nearly 3%, and U.S. equity futures rebounded — with Nasdaq futures up more than 1% and Bitcoin rallying by almost $1,000. Traditional safe-havens like the yen weakened as the U.S. dollar gained ground.

Last Friday, a single social media post from Donald Trump wiped out about $2 trillion in U.S. stock market value. The S&P 500 slid 2.7%, marking its worst day since April, as investors reacted to fears of renewed trade tensions.

Markets are now coming to terms with the fact that Trump’s protectionist stance still carries significant global weight — capable of shaking everything from supply chains to inflation expectations.

Michael O’Rourke at JonesTrading summed it up neatly: “Throughout the summer, greed has far outweighed fear in U.S. equities. The current complacency leaves investors vulnerable.”

Northlight’s Chris Zaccarelli noted that October is once again living up to its reputation as one of the most volatile months, warning that more turbulence could be on the way.

Despite the selloff and mounting fears, not everyone’s panicking.

Over the weekend, Trump and Vice President J.D. Vance both adopted a calmer tone, suggesting that a full-blown trade escalation might not be inevitable.

VanEck strategist Anna Wu even argued that the market had already priced in much of the pessimism, describing the rebound as a sign of “oversold recovery.”

But through all this noise, gold is doing what it does best — standing tall as the ultimate chaos hedge. Despite the rebound in risk assets on Monday, traders aren’t letting go of their gold positions.

With parts of the U.S. government still shut down and key economic data releases delayed, the market is effectively flying blind on what the Federal Reserve will do next — ideal conditions for safe-haven demand to flourish.

From a technical perspective, the trend remains solidly bullish. Analysts at FxEmpire point to $3,939 and $3,888 as critical support zones, with momentum staying intact unless prices fall below $3,819.

On the upside, there’s no real historical resistance left — only psychological thresholds at $4,100 and $4,200.

Then comes the boldest prediction yet: Bank of America’s Michael Hartnett believes gold could soar to $6,000 by next spring if history follows its usual rhythm.

He noted: “History no guide to future, but avg gold jump past 4 bull markets ≈ 300% in 43 months which would imply gold reaching $6,000 by spring next year.”

Whether or not gold actually hits that level, one thing is certain — this rally isn’t just about fear anymore. It’s about a global portfolio recalibration — and perhaps a quiet vote of no confidence in the old market order.

With equity valuations stretched, geopolitical risks rising, and monetary policy stuck in limbo, gold’s surge may reflect something deeper: a growing loss of faith in predictability itself.

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