Regarding Gold$XAU Silver$XAG Future Outlook

Gold and silver are highly likely to break through $5600 and $120 this year, which are also the all-time highs for gold and silver.
COMEX gold opened lower in the Asian session but quickly recovered with increased volume after a dip, rising back to $5200 and regaining the $5200 level, which is a very positive signal.
The day before yesterday, gold prices pulled back, closing at 5176, down 0.94%, but the closing price remained above the daily peak since January 30, confirming that the upward trend remains intact. This is also a very good sign.
Yesterday’s price correction was probably due to some traders taking profits or cutting losses. That’s okay—those who need to exit can do so. Gold still stands above $5200.
Based on this trend, the next target price is seen at $5300.
COMEX silver also opened lower in the Asian session but moved higher throughout the day, currently reaching $90 and challenging the $92 level. This level is tough, with many previous trapped positions. Once above $92, there may be significant volatility, but the overall trend remains upward. Reaching the previous high of $120 is only a matter of time.
Gold and silver are expected to hit new highs in the second half of the year.
However, I still firmly believe that the probability of hitting new highs in the first half is low.
The main reasons include:
1. Gold prices have been rising for nearly 7 months without a monthly decline, which is unusual.
2. Usually, after a large increase of over 10% like last month, a correction of 3-4 months is expected.
3. The Nasdaq is expected to bottom around the March rate hike, putting pressure on the market to sell gold and buy into US stocks.
4. Aside from the Iran issue, there are no other geopolitical crises in the first half that could sharply push gold prices higher in a short period. Currently, the US and Iran are unlikely to go to war in the short term.