Investment analyst Rashad Hajiyev shared the chart and the call, and the setup is clear at first glance: gold has been grinding higher inside a 3-month ascending wedge, and price is now pressing into the top of that structure around the $4,600 area.
The wedge is formed by two rising trendlines. The lower trendline keeps catching pullbacks (higher lows), while the upper trendline keeps capping the rallies (higher highs, but controlled). That’s classic “pressure building” price action. It’s not chaotic. It’s a slow squeeze.
On the right side of the chart, price is basically sitting at the wedge ceiling, right around $4,596. That’s the moment where charts tend to stop being “interesting” and start being “decisive.” Either the market finally breaks through, or it smacks into the ceiling and drops back into the range.
What you'll learn 👉
Key levels that matter this week
The wedge top is the first level: $4,600 is the line in the sand on this chart.
If price holds above that wedge ceiling, it turns into support, and that’s the green light Rashad is leaning on for a continuation move. If the gold price fails and slips back under, the wedge is still intact, and the market may spend more time chopping before the next attempt.
On the downside, the “damage control” area is the upper-$4,400s to low-$4,500s, because that’s where the wedge support and prior structure start to cluster. A clean breakdown through the wedge support would weaken the whole breakout story and bring a deeper reset into play.
Gold Price: The $5.1K first target – how realistic is it?
Rashad’s first target is $5,100 within 2 weeks. From $4,600, that’s roughly an 11% move. In gold terms, that’s big—but not fantasy, especially if the breakout triggers a fast momentum chase.
This chart also shows why traders like wedge breaks: once price clears the ceiling, there’s often a quick “air pocket” where the market runs because there aren’t many sellers left at the top.
That said, a straight line to $5,100 is rarely how it plays out. A more believable path is: break above $4,600, push, then pull back to retest the breakout zone, then push again.
Read also: Forget Gold? Why You Need to Consider Copper as an Investment Bet
The $6K in 3 months call: the part that needs a reality check
The $6,000 target is where the hype level jumps. From $4,600, that’s about a 30% move in a short window.
Is it possible? Yes, markets can do wild things when positioning gets one-sided and momentum takes over.
Is it likely without a major macro driver? That’s the tougher sell. A $6K print in 3 months would probably need more than just a clean wedge break. It would likely need fuel like aggressive rate-cut expectations, a weaker dollar trend, or a broad risk-off bid that keeps pushing capital into metals.
So the way to read Rashad’s $6K call is not “guaranteed target.” It’s more like: if gold breaks out and stays out, the upside runway gets huge fast.
The bold part of the call is the speed. Gold can trend for years, and it can also spike when the mood flips. This setup says the market is leaning toward “spike.” Now it needs confirmation.
Read also: VanEck Predicts the Gold Price If the Dollar Loses Reserve Status
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