Quotes XAU/USD continue to move within the development of the decline and descending channel. At the time of publication of the forecast, the price of Gold today is 3235 Dollars per Troy Ounce. 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 sellers of the asset and the 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 a test of the resistance level near the 3265 area. From where we should expect a downward bounce and continuation of the Gold price decline with a potential target below the level of 3135.
GOLD Forecast and Analysis for May 15, 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 border of the bearish channel. A strong rise in prices and a breakdown of the 3335 level will cancel the variant of the Gold price drop on May 15, 2025. This will indicate the breakdown of the resistance area and the continuation of the asset quotes growth to the area above the level of 3385. We should expect an acceleration of the XAU/USD quotes decline with the breakdown of the support area and the price closing under the level of 3215.
GOLD Forecast and Analysis for May 15, 2025 suggests an attempt to develop a bullish correction of the price and test the resistance area near the level of 3265. Further, the continuation of the fall in base metal quotes with a target below the level of 3135. A strong growth in the value of the asset on the markets and a breakdown of the level 3335 will cancel the option of the fall in Gold prices. This will indicate the continuation of the rise in the price of Gold with a potential target above 3385.
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