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 3251 Dollars per Troy Ounce. The moving averages indicate the presence of a short-term bearish trend. Prices are testing the area between the signal lines again, which indicates pressure from the sellers of the asset and potential continuation of the decline from the current levels. At the moment, we should expect an attempt to develop a bullish correction in gold and test the resistance level near the 3260 area. From where we should expect a downward bounce and continuation of the Gold price decline with a potential target below the level of 3145.
GOLD Forecast and Analysis for May 14, 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 3325 level will cancel the variant of Gold price drop on May 14, 2025. This will indicate the breakdown of the resistance area and the continuation of growth of asset quotes to area above the level of 3375. We should expect XAU/USD to accelerate the decline with the breakdown of the support area and closing of the price under the level 3205, which will indicate the breakdown of the lower boundary of the bullish correction channel.
GOLD Forecast and Analysis for May 14, 2025 suggests an attempt to develop a bullish price correction and test the resistance area near the level of 3260. Further, the continuation of the decline in base metal quotes with the target below the level of 3145. A strong growth in the value of the asset on the markets and a breakdown of the level 3325 will cancel the option of the fall in Gold prices. This will indicate the continuation of the Gold price rise with a potential target above 3375.
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