US Debt Storm Sends Gold Soaring! Gold Price Breaks $4,600 Barrier — Expert Reveals Resistance Cleared: Next Target Is $6,000

To rescue the U.S. Treasury market, the U.S. Department of the Treasury recently announced an increase in long-term bond buybacks to $4 billion. However, the effect did not last long. Subsequent reports from U.S. media revealed that Treasury Secretary Bessent might raise the buyback funds to $1 trillion.

These developments triggered a sharp rise in gold prices, which have now exceeded $4,600 per ounce. In response, financial writer Di Xiang stated that the probability of gold prices reaching new historical highs has greatly increased. "If it breaks the previous high, the next step will be $6,000," he said.

Di Xiang mentioned that investors had asked him why, during gold’s recent period of weakness, he expected prices to rebound from $4,000 to $4,400 — a target not only met but briefly surpassed, reaching nearly $4,700. How should we interpret future movements?

"Honestly, I was previously cautious about gold’s rebound, primarily because the U.S. government was promoting a strong-dollar policy," Di Xiang admitted. Although a strong dollar is typically bearish for gold, he still believed that deleveraging in the gold market had ended and that the $4,000 level provided strong support, making a rebound to $4,400 feasible. However, since a strong-dollar policy would indeed suppress gold’s upside, he refrained from being overly bullish.

How high can gold go? Di Xiang reveals his price target: $6,000.

Di Xiang pointed out that the U.S. Treasury’s expanded bond buyback effort is effectively a move to "protect bonds and abandon the dollar," signaling a shift from a strong to a weak dollar policy. This explains why gold prices have surged like a seal being lifted — rapidly climbing from $4,000 to around $4,700 in a short time. "In other words, the reason I was previously cautious about gold has disappeared. From now on, I will turn optimistic."

With gold breaking through the critical resistance level of $4,600, Di Xiang believes the likelihood of challenging the all-time high has greatly increased. "If it sets a new record, the next step will be $6,000." Of course, discipline must still be maintained. For any future position increases, he will patiently wait for confirmation of $4,600 as support.

Di Xiang emphasized that a large amount of speculative capital has already flooded into the gold market. Entering recklessly could be dangerous — after all, just a few months ago, gold prices fell nearly 30% from their peak. Only by consistently managing risk can profits truly be secured.

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