Gold's allure has intensified, driving its price upward in Asian trading on Friday. Spot gold rose by 0.3%, while futures climbed by 0.9%, as investors increasingly seek refuge in gold amidst escalating tensions. This surge sets the stage for gold to potentially conclude its recent three-week correction on a high note.

The long-term outlook for gold remains resoundingly bullish, with analysts and technical charts hinting at a potential rise to the $3,000 mark. The formation of an ascending broadening wedge pattern since 2016, combined with an inverted head and shoulders formation from 2020 to 2023, underscores a persistent upward trend. These technical indicators, along with a breakout through the long-term pivot and neckline at $2,075, reinforce the bullish sentiment, suggesting that minor seasonal corrections may be overlooked as the gold rally continues.

Geopolitical tensions, particularly in the Middle East, have significantly boosted gold's appeal as a safe-haven asset. As tensions escalate, investors are increasingly turning to gold, supporting its price ascent. The recent breach of the $2,075 level, now considered a strong support in case of any corrections, highlights gold's allure during times of global instability. With its radiant future, gold is poised to continue shining bright.