XAU/USD quotes continue to move within a strong decline and a bullish channel. At the time of this forecast, the price of gold today is $4,656 per troy ounce. Moving averages indicate a short-term bullish trend. Prices are again testing the area between the signal lines, indicating pressure from asset buyers and potential continued growth from current levels. Currently, we expect an attempt at a bearish correction in the gold price and a test of support near 4,265. From there, we expect an upward rebound and continued growth in the gold price, with a potential target above 5,235.
GOLD Forecast and XAU/USD Analysis for February 3, 2026
An additional signal for XAU/USD quotes to rise will be a test of the bullish support line on the relative strength indicator (RSI). A second signal will be a rebound from the lower boundary of the ascending channel. A decline in gold prices on February 3, 2026, and a breakout of 4285 would cancel the upward price scenario for gold. This would indicate a breakout of the support area and a continued decline in the asset’s price below 3675. XAU/USD growth should accelerate with a breakout of the resistance area and a price close above 4905.
GOLD Forecast and XAU/USD Analysis for February 3, 2026 suggests an attempt to develop a bearish price correction and a test of the support area near 4265. Subsequently, continued growth in base metal prices with a target above 5235. A decline in the market price and a breakout of 4285 would cancel the upward price scenario for gold. This would indicate a continued decline in gold with a potential target below 3675.
