XAU/USD quotes continue to move within the framework of the development of the correction and the descending channel. At the time of publication of the forecast, the price of Gold for today is 3026 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 downwards, 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 bullish correction of gold and a test of the resistance level near the 3055 area. From where we should expect a downward rebound and a continuation of the fall in the price of Gold with a potential target below the level of 2915.
GOLD Forecast and Analysis for April 8, 2025
An additional signal in favor of a fall in XAU/USD quotes will be a test of the downward trend line on the relative strength indicator (RSI indicator). The second signal will be a rebound from the resistance level on the price chart. The cancellation of the Gold price fall scenario on April 8, 2025 will be a strong price increase and a breakout of the 3095 level. This will indicate a breakout of the resistance area and continued growth of the asset quotes to the area above the 3145 level. It is worth expecting an acceleration of the fall of XAU/USD quotes with a breakout of the support area and the price closing below the 3005 level.
GOLD Forecast and Analysis for April 8, 2025 suggests an attempt to develop a bullish price correction and test the resistance area near the 3055 level. Further, the continuation of the fall in non-ferrous metal quotes with a target below the 2915 level. The cancellation of the Gold price fall scenario will be a strong increase in the asset value on the markets and a breakout of the 3095 level. This will indicate a continued rise in the Gold price with a potential target above the 3145 mark.
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