XAU/USD quotes continue to move within the downward trend and have exited the Wedge reversal pattern. At the time of this forecast’s publication, the gold price today is $4,898 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 to further support the gold price near 4,525. From there, we expect an upward rebound and continued growth in gold, with a potential target above 5,385.
GOLD Forecast and XAU/USD Analysis for February 6, 2026
An additional signal favoring growth in XAU/USD quotes will be a test of the trend line on the relative strength indicator (RSI). A second signal will be a rebound from the lower boundary of the bullish channel. The potential for gold price growth on February 6, 2026, will be cancelled if prices fall and the 4405 level is broken. This will indicate a breakout of the support area and a continued decline in the asset’s price below 4015. XAU/USD price growth should accelerate with a breakout of the resistance area and a price close above 5105.
GOLD Forecast and XAU/USD Analysis for February 6, 2026 suggests an attempt to develop a bearish price correction and a test of the support area near 4525. Subsequently, the base metal’s price growth will continue with a target above 5385. The potential for gold price growth will be cancelled if prices fall on the market and the 4405 level is broken. This will indicate a continued decline in the gold price with a potential target below 4015.
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