Quotes XAU/USD continue to move within the development of the fall and left the limits of the bullish channel. At the time of publication of the forecast, the price of Gold today is 3232 Dollars per Troy Ounce. The moving averages indicate the presence of a short-term bearish trend. Prices broke through the area between the signal lines downward, which indicates pressure from the buyers of the asset and potential continuation of growth from the current levels. At the moment we should expect an attempt to develop a bullish correction of gold and test the level of resistance near the area of 3265. From where we should expect a downward bounce and continuation of the Gold price decline with a potential target below the level of 3115.
GOLD Forecast and Analysis for May 13, 2025
An additional signal in favor of XAU/USD quotes decline will be a test of the resistance line on the relative strength indicator (RSI indicator). The second signal will be a rebound from the upper boundary of the bearish channel. A strong rise in prices and a breakdown of the 3315 level will cancel the variant of the Gold price drop on May 13, 2025. This will indicate the breakdown of the resistance area and the continuation of growth of asset quotes to the area above the level of 3365. We should expect XAU/USD to accelerate the decline with the breakdown of the support area and the price closing under the level 3205.
GOLD Forecast and Analysis for May 13, 2025 suggests an attempt to develop a bullish price correction and test the resistance area near the level of 3265. Further, the continuation of the fall of base metal quotes with the target below the level of 3115. A strong growth of the asset value on the markets and a breakdown of the level 3315 will cancel the variant of Gold price decline. This will indicate the continuation of the Gold price rise with a potential target above 3365.
Looking for the Best Forex Broker? We trade at RoboForex. You can receive a rebates from each trade when registering using our partner link
