XAU/USD quotes continue to move within a developing correction and bullish channel. At the time of this forecast, the price of gold today is $4,313 per troy ounce. Moving averages indicate a short-term bullish trend. Prices have broken above the area between the signal lines, indicating upward pressure from asset buyers and potential continued growth from current levels. Currently, we expect an attempt at a bearish correction in gold prices and a test of support near 4,275. From there, we expect an upward rebound and continued growth in gold prices, with a potential target above 4,505.
GOLD Forecast and XAU/USD Analysis for January 2, 2026
An additional signal favoring an uptrend in XAU/USD quotes 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 and a breakout of 4245 would cancel the upward price scenario for January 2, 2026. This would indicate a breakout of the support area and a continued decline in the asset’s price below 4085. XAU/USD price growth should accelerate with a breakout of the resistance area and a price close above 4405.
GOLD Forecast and XAU/USD Analysis for January 2, 2026 suggests an attempt to develop a bearish price correction and a test of the support area near 4275. Subsequently, continued growth in base metal prices with a target above 4505. A decline in the asset’s market value and a breakout of 4245 would cancel the upward price scenario for gold. This would indicate a continued decline in gold prices with a potential target below 4085.
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