XAU/USD quotes continue to move within the development of growth and a bullish channel. At the time of publication of the forecast, the price of Gold for today is 3120 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 current levels. At the moment, we should expect an attempt to develop a correction in gold and a test of the support level near the 3085 area. From where we should expect an upward rebound and continued growth in the price of Gold with a potential target above the level of 3205.
GOLD Forecast and Analysis for April 1, 2025
An additional signal in favor of an increase in XAU/USD quotes will be a test of the bullish trend line on the relative strength indicator (RSI indicator). The second signal will be a rebound from the lower border of the ascending channel. The cancellation of the Gold price growth scenario on April 1, 2025 will be a price drop and a breakout of the 3055 level. This will indicate a breakout of the support area and a continuation of the asset price fall to the area below the 3005 level. It is worth expecting an acceleration of the XAU/USD quotes fall with a breakout of the support area and a price close below the 3135 level.
GOLD Forecast and Analysis for April 1, 2025 suggests an attempt to develop a bearish price correction and test the support area near the 3085 level. Further, the continuation of the growth of non-ferrous metal quotes with a target above the 3205 level. The cancellation of the Gold price rise scenario will be a fall in the asset value on the markets and a breakout of the 3055 level. This will indicate a continuation of the Gold price decline with a potential target below the 3005 mark.
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