XAU/USD quotes continue to move within a downward trend and a descending channel. At the time of this forecast, the price of gold today is $4,625 per troy ounce. Moving averages indicate a short-term bullish 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. Currently, we expect an attempt at a bullish correction in gold prices and a test of the resistance level near 4,765. From there, we expect a downward rebound and a continued decline in gold prices, with a potential target below 4,275.
GOLD Forecast and XAU/USD Analysis for March 20, 2026
An additional signal favoring a decline in XAU/USD quotes will be a test of the descending trend line on the relative strength indicator (RSI). A second signal will be a rebound from the lower boundary of the bullish channel. A strong rally and a breakout of 4945 would cancel the gold price decline scenario on March 20, 2026. This would indicate a breakout of the resistance area and continued price growth above 5465. Expect the XAU/USD price decline to accelerate with a breakout of the support area and a price close below 4475.
GOLD Forecast and XAU/USD Analysis for March 20, 2026 suggests an attempt to develop a bullish price correction and test the resistance area near 4765. Subsequently, a continued decline in base metal prices with a target below 4275. A strong rally in the market and a breakout of 4945 would cancel the gold price decline scenario. This would indicate a continued rise in gold with a potential target above 5465.
