XAU/USD quotes continue to move within the growth and bullish channel. Prices successfully rebounded from the lower border of the large “Triangle” pattern. At the time of publication of the forecast, the price of gold for today is 3374 dollars per troy ounce. Moving averages indicate a short-term bullish trend. Prices have broken through the area between the signal lines upwards, indicating pressure from buyers of the asset and a potential continuation of growth from current levels. At the moment, we should expect an attempt at a bearish correction of the gold price and a test of the support level near the 3345 area. From there, we can expect an upward rebound and continued growth in the price of gold with a potential target above the 3475 level.
GOLD Forecast and XAU/USD Analysis for August 5, 2025
An additional signal in favor of growth in XAU/USD quotes will be a test of the support line on the relative strength indicator (RSI). The second signal will be a rebound from the lower border of the bullish channel. A decline in quotes and a breakout of the 3305 level will cancel the option of growth in gold prices on August 5, 2025. This will indicate a breakout of the support area and a continuation of the decline in asset quotes to an area below the 3245 level. An acceleration in the growth of XAU/USD quotes should be expected with a breakout of the resistance area and the price closing above the 3405 level.
GOLD Forecast and XAU/USD Analysis for August 5, 2025 suggests an attempt to develop a bearish price correction and test the support area near the 3345 level. Further, the rise in non-ferrous metal quotes will continue with a target above the 3475 level. A fall in the asset’s value on the markets and a breakout of the 3245 level will cancel the option of growth in gold prices. This will indicate a continuation of the decline in the price of gold with a potential target below the 3205 mark.
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