XAU/USD quotes continue to move within the framework of the development of growth and the beginning of the development of the “Triangle” model. At the time of publication of the forecast, the price of Gold for today is 3046 Dollars per Troy Ounce. Moving averages indicate the presence of a short-term bearish trend. Prices have broken through the area between the signal lines upwards, which indicates pressure from asset sellers and a potential continuation of the fall from the current levels. At the moment, we should expect an attempt to develop a bearish correction of gold and a test of the support level near the 3015 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 3145.
GOLD Forecast and Analysis for April 10, 2025
An additional signal in favor of the growth of XAU/USD quotes will be a test of the broken trend line on the relative strength indicator (RSI indicator). The second signal will be a rebound from the upper border of the “Triangle” pattern. The cancellation of the option of growth in Gold prices on April 10, 2025 will be a fall in prices and a breakout of the 2955 level. This will indicate a breakout of the support area and a continuation of the fall in asset quotes to the area below the 2905 level. We should expect an acceleration of the growth of XAU/USD quotes with a breakout of the resistance area and a price close above the 3065 level, which will indicate a breakout of the upper border of the descending channel.
GOLD Forecast and Analysis for April 10, 2025 suggests an attempt to develop a bearish price correction and test the support area near the level of 3015. Further, the continuation of the growth of non-ferrous metal quotes with a target above the level of 3145. The cancellation of the option of growth in Gold prices will be a fall in the value of the asset on the markets and a breakout of the level of 2955. This will indicate a continuation of the decline in the price of Gold with a potential target below the mark of 2905.
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