Gold’s rally: $3,000/oz in Q1 2025 or a trap? New peak and sell?

Gold has recently provided long traders with opportunities to step in and buy, but could the market be setting a trap—luring traders toward an all-time high (ATH) only to tumble shortly after? The $3,000 level is often seen as a sentimental milestone, yet there’s no historical trading record of gold sustainably reaching or surpassing it. So far, the rally appears driven by geopolitical tensions and typical price action behavior. Are we on the cusp of seeing gold hit $3,000 per ounce as early as Q1 2025, or is the market misleading us into thinking the pot is ready to boil over?

Two scenarios seem plausible (see image):

Gold reaches a new ATH, triggering a sell-off that draws in more buyers while allowing price action to build momentum toward $3,000/oz.Gold hits $3,000/oz, and the market turns that level into a new floor rather than a ceiling.
But if that happens, where does it go from there? That remains unclear.

What are your thoughts?

*Not financial advice.
Side note: I initially bought at $2,833.00 and took an early exit. Now holding a new entry at $2,895.00.
#FxHyenas