XAU/USD quotes continue to move within the framework of the growth development and the ascending channel. At the time of the forecast publication, the price of Gold for today is 2897 Dollars per Troy Ounce. Moving averages indicate the presence of a short-term bullish trend. Prices have broken through the area between the signal lines upwards, which indicates pressure from asset buyers and potential continuation of growth from the current levels. At the moment, we should expect an attempt to develop a decline and a test of the support level near the 2875 area. From where we should expect an upward rebound and continued growth in the price of Gold with a potential target of raising the level of 2975.
GOLD Forecast and Analysis for February 11, 2025
An additional signal in favor of the growth of XAU/USD quotes will be a test of the support line on the relative strength indicator (RSI indicator). The second signal will be a rebound from the lower border of the bullish channel. The cancellation of the growth scenario for Gold prices on February 11, 2025 will be a fall in prices and a breakout of the 2835 level. This will indicate a breakout of the support area and a continuation of the fall in asset quotes to the area below the 2795 level. It is worth expecting an acceleration in the growth of XAU/USD quotes with a breakout of the resistance area and a price close above the 2925 level.
GOLD Forecast and Analysis for February 11, 2025 suggests an attempt to develop a price fall and test the support area near the 2875 level. Further, the continuation of the growth of non-ferrous metal quotes with a target above the 2975 level. The cancellation of the growth scenario for Gold prices will be a fall in the value of the asset on the markets and a breakout of the 2835 level. This will indicate a continuation of the decline in Gold prices with a potential target below the 2795 mark.
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