In technical terms, the gold price short term forecast shows price coiling within a tight range, suggestive of an imminent volatility burst toward $2,365-$2, Trading at $3825.41 per troy ounce in today’s session, up a remarkable +1.74%, gold (XAU/USD) has once again renewed all-time highs, further extending yearly gains. In a research note released Sunday, the investment bank is projecting gold to trade in a range of $3,100 to $3,500 within the next three months—up from its previous estimate of $3,000 to $3,300 set on May 12. According to market watchers, the gold price short term forecast remains favorable as algorithmic buying emerges on dips, locking in the $2,335-$2,360 range for active traders.