XAU/USD quotes continue to move as part of a correction and the formation of a Triangle pattern. At the time of this forecast’s publication, the gold price today is $4,092 per troy ounce. Moving averages indicate a short-term bearish trend. Prices have broken below the area between the signal lines, indicating downward pressure from sellers of the asset and a potential continuation of the decline from current levels. At this point, we should expect an attempt at a bullish correction in gold prices and a test of the resistance level near 4,115. From there, we should expect a downward rebound and a continued decline in gold prices, with a potential target below 3,845.
GOLD Forecast and XAU/USD Analysis for July 28, 2026
An additional signal favoring a decline in XAU/USD quotes will be a test of the bearish trend line on the relative strength indicator (RSI). A second signal will be a rebound from the upper boundary of the Triangle pattern. A strong rally and a breakout of 4195 would cancel out the potential for a gold price decline on July 28, 2026. This would indicate a breakout of the resistance area and continued growth above 4485. Expect the XAU/USD price decline to accelerate with a breakout of the support area and a close below 3955, which would indicate a breakout of the lower boundary of the Triangle pattern and the beginning of a pattern with targets below.
GOLD Forecast and XAU/USD Analysis for July 28, 2026 suggests an attempt to develop a bullish price correction and test the resistance area near 4115. Subsequently, base metal prices are expected to continue to decline, with a target below 3845. A strong rally in the market and a breakout of 4195 would cancel out this downward price scenario for gold. This would indicate continued price growth, with a potential target above 4485.
