Gold could potentially more than double in value before the end of the decade, based on a bullish technical setup for the precious metal.

According to analysis by TradingShot, gold’s potential to reach $8,000 stems from its near-constant rally since October 2023, when it last tested its one-month moving average (MA).

In a TradingView post on September 5, the analysis highlighted that this level has historically acted as the dividing line between bull and bear cycles, with rebounds often triggering strong upward moves.

Gold has also been trading within a multi-decade rising channel that began in August 1993. Each cycle has been defined by distinct phases: a bear cycle forming when prices fall below the MA50, and a bull cycle emerging once prices recover above it. The current bull phase began after the August 2018 low, mirroring earlier cycle behavior.

TradingShot noted that the first bull run within this channel peaked slightly above the 3.618 Fibonacci extension, followed by a symmetrical bear cycle. The present bull cycle has already shown similar dynamics, reinforcing the structural validity of the channel.

Gold’s path to $8,000

Using time-cycle analysis, TradingShot projects the ongoing bull cycle could conclude in October 2029, when gold is expected to hit the upper boundary of the channel near $8,000. This projection aligns with the long-term observation that each super-cycle lasts roughly 18 years.

“By October 2029, contact with the Channel’s top should have hit $8000, which is still marginally below the current 3.618 Fibonacci extension,” the analyst stated. 

While corrections are anticipated along the way, the broader uptrend is expected to remain intact. The bullish outlook comes as gold hit a record high following a strong run in 2025.

At the close of the last session, the yellow metal was valued at $3,586, having rallied more than 36% year-to-date. A move toward the $8,000 level would imply a 123% increase from the current price.

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