XAU/USD quotes continue to move within the framework of the development of the fall and the beginning of the implementation of the “Triangle” model. At the time of publication of the forecast, the price of Gold for today is 3235 Dollars per Troy Ounce. Moving averages indicate the presence of a short-term bullish trend. Prices broke through the area between the signal lines downwards, which indicates pressure from sellers 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 a test of the resistance level near the 3265 area. From where we should expect a rebound downwards and a continuation of the fall in the price of Gold with a potential target below the level of 3065.
GOLD Forecast and Analysis for May 2, 2025
An additional signal in favor of a decrease in XAU/USD quotes will be a test of the resistance line on the relative strength indicator (RSI indicator). The second signal will be a rebound from the lower border of the “Triangle” model. Cancellation of the Gold price fall scenario on May 2, 2025 will be a strong price increase and a breakout of the 3345 level. This will indicate a breakout of the resistance area and continued growth of the asset quotes to the area above the 3405 level. It is worth expecting an acceleration of the fall of XAU/USD quotes with a breakout of the support area and closing of the price below the 3205 level.
GOLD Forecast and Analysis for May 2, 2025 suggests an attempt to develop a bullish price correction and test the resistance area near the 3265 level. Further, the continuation of the fall of non-ferrous metal quotes with a target below the 3065 level. Cancellation of the Gold price fall scenario will be a strong increase in the asset value on the markets and a breakout of the 3345 level. This will indicate a continued rise in the Gold price with a potential target above the 3405 mark.
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