Bank of America is urging warning after gold broke above $4,000 for the primary time Tuesday. Gold futures touched an intraday document of $4,014.60 per ounce as of 11:31 a.m. ET, whereas spot gold hit an all-time excessive of $3,985.36. Gold costs have gained about 50% this 12 months as traders search a secure haven from geopolitical volatility, financial uncertainty, a weaker greenback and cussed inflation. But BofA warned traders that gold might enter a “consolidation or correction” within the fourth quarter, as it faces “uptrend exhaustion.” Spot gold tends to pivot both larger or decrease when it hits massive round numbers, BofA technical strategist Paul Ciana informed purchasers. “Since the 1970s, many big round number areas have served as support and/or resistance levels for the gold trend at hand,” Ciana wrote. XAU= YTD mountain Spot gold 12 months thus far Gold costs have doubled for the reason that begin of 2024, blowing previous $3,000 per ounce with out problem, he informed purchasers. But spot gold seems to be like it might hit a peak round $4,000, he stated. The valuable metallic hit peaks when it was buying and selling 25% above its shifting common in August 2020, August 2011, March 2008 and May 2006, Ciana wrote. Gold is buying and selling 20% above it 200-day shifting common proper now, which suggests it is nearing a peak, he added. ( Learn the very best 2026 methods from contained in the NYSE with Josh Brown and others at CNBC PRO Live. Tickets and data right here . )