XAU/USD quotes continue to move within the bearish correction and downward channel. At the time of publication, the price of gold for today is $3,308 per troy ounce. Moving averages indicate a short-term bearish trend. Prices have broken through the area between the signal lines downwards, indicating pressure from asset sellers and a potential continuation of the decline from current levels. At the moment, we should expect an attempt at a bearish correction in the gold price and a test of the support level near the 3285 area. From there, we should expect an upward rebound and a continuation of the rise in the price of gold with a potential target above the 3375 level.
GOLD Forecast and XAU/USD Analysis for July 9, 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 upper border of the bearish channel. A decline in prices and a breakout of the 3255 level will cancel the option of growth in gold prices on July 9, 2025. This will indicate a breakout of the support area and a continuation of the decline in asset prices to below the 3195 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 3350 level, which will indicate a breakout of the upper border of the downward correction channel.
GOLD Forecast and XAU/USD Analysis for July 9, 2025 suggests an attempt to develop a bearish price correction and test the support area near the 3285 level. Further, the growth of non-ferrous metal quotes will continue with a target above the 3375 level. A fall in the asset’s value on the markets and a breakout of the 3255 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 3195 mark.
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