Is Gold the new NVIDIA?
What happens to Gold if it goes parabolic?
In 2023, NVIDIA's meteoric rise captured headlines, with its parabolic move fueled by AI hype and strong earnings growth. Recently, gold has started to show signs of a similar technical setup. Could the shiny pet rock be staging its own NVIDIA-like parabolic move up?
The Parabolic Clues
Beginning in 2024, NVIDIA's chart displayed classic parabolic behavior: steepening trendlines, a sharp increase in volume, and euphoric sentiment. As shown in the chart, labeled "D" NVIDIA's price broke through its Ichimoku E-Target at $66.18 in February 2024. Gold's recent price action is echoing these signals, having also recently broken through its own E-Target.
On the chart below, gold has firmly broken above the Kumo cloud, with the Tenkan-sen and Kijun-sen both rising in bullish alignment. The Chikou span has cleared previous resistance zones, mirroring NVIDIA's technical strength in early 2023. In just three days, as the monthly candle closes, gold will have convincingly broken through its first E-Target resistance level at $2,989.
Next Key E-Target Levels to Watch
2-E Target: $3,385 - The next key psychological level that could trigger a parabolic extension if breached.
3-E Target: $3,782
4-E Target: $4,178
Fundamental Tailwinds
While NVIDIA soared on AI momentum, gold's narrative is tied to geopolitical tension, central bank buying, and inflation hedging. If these catalysts persist, gold's technical setup may align with NVIDIA's explosive run.
Gold Price Forecasts for 2025
Morgan Stanley: Reach $2,700 by Q4 2025
JP Morgan: $2,950
Goldman Sachs: $3,100 - $3,300 average
Citibank: Three-month gold price target of $3,200
UBS: Reach $3,200 per ounce by June 2025
Bank of America: Reach $3,500 per ounce by the end of 2025
Final Thoughts
NVIDIA's surge taught traders that parabolic moves can unfold rapidly. If you think you missed the boat on Gold, fear not! Gold’s price action now appears to be tracing a similar path. Keep a close eye on key levels and Ichimoku signals — gold may be gearing up for its own "NVIDIA moment." Make sure to like, share and subscribe so you can stay up to date on the markets!
Stay Vigilant,
-Tyler