Traders talk about Gold again after pushing to fresh all-time highs, briefly trading above the $4,600 level before cooling slightly. At the same time, silver pumped past $84; another fuel to the broader precious metals rally. With both metals moving aggressively higher, some well-followed analysts are openly questioning whether stocks and crypto are starting to look stretched compared to hard assets.
In recent days, a growing number of market commentators have echoed a similar view: that gold and silver are the only assets offering real protection right now. Some have gone as far as calling stocks and crypto “completely overvalued,” arguing that the long-awaited silver breakout has only just begun, with targets above $100 now back in the conversation. Whether or not one agrees with that stance, the price action in both metals has been impossible to ignore.
The only two assets that are worth to hold during these days are $GOLD & $SILVER and I consider Stocks and Crypto as completely over-valued! Since years I’m talking about Silver and the run has just started! I see targets above $100 very soon
— Doctor Profit 🇨🇭 (@DrProfitCrypto) January 12, 2026
Gold’s move above $4,600 marks another decisive leg higher in a rally that has been building for months. Silver’s strength adds confirmation, as silver often lags gold before catching up quickly when momentum accelerates. Together, the two are sending a clear message about risk appetite and capital rotation.
Gold Chart Analysis
Looking at the daily gold chart, the broader trend remains firmly bullish. Price continues to make higher highs and higher lows, with no meaningful breakdown in structure so far. Even after the recent push to new highs, gold has not shown signs of panic selling or sharp rejection. Instead, the pullbacks have been controlled, suggesting buyers are still in charge.
One notable signal on the chart is the CRSI (Connors RSI), which is currently elevated. A high CRSI reading typically signals short-term overbought conditions, meaning gold could pause or consolidate in the near term. However, in strong trends, CRSI can remain elevated longer than expected. Rather than signaling an immediate reversal, this often points to a slowdown or sideways phase before the next move.
The MACD indicator also supports the bullish case. The MACD line remains above the signal line, and while momentum has cooled slightly compared to earlier surges, there is no clear bearish crossover yet. This suggests that upside momentum is still present, even if gold takes a breather in the short term.
Volume has remained steady throughout the advance, which is another constructive sign. There has been no clear distribution pattern or surge in selling pressure, reinforcing the idea that this move is being driven by sustained demand rather than speculative excess alone.
Short- to Mid-Term Gold Price Outlook
In the short term, gold may need time to digest the recent breakout. After such a strong push, a period of consolidation between roughly $4,450 and $4,600 would be healthy. As long as price holds above former resistance levels, the overall trend remains intact.
If gold manages to stay above the $4,500 area and momentum indicators reset slightly, another attempt at higher levels becomes likely. A clean continuation could open the door toward the $4,750–$4,800 zone over the coming weeks. That said, traders should expect volatility, especially with CRSI already stretched.
On a mid-term basis, the structure continues to favor higher prices. As long as gold does not lose key support zones and the MACD avoids a sustained bearish crossover, pullbacks are more likely to be viewed as buying opportunities rather than trend reversals.
Silver’s strength adds an extra layer of confirmation. Historically, when silver starts outperforming, it often signals broader confidence in the precious metals cycle. If silver continues to hold above recent breakout levels, it could help keep gold supported even during short-term pauses.
For now, gold remains firmly in an uptrend. While short-term cooling would not be surprising after another all-time high, the chart suggests the bigger move may still be unfolding rather than ending.
Subscribe to our YouTube channel for daily crypto updates, market insights, and expert analysis.
