XAU/USD quotes continue to move within a developing bullish correction and a descending channel. At the time of this forecast, the price of gold today is $4,415 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 the gold price and a test of the resistance level near 4,645. From there, we expect a downward rebound and a continued decline in the gold price, with a potential target below 3,805.
GOLD Forecast and XAU/USD Analysis for March 24, 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 4885 would cancel the gold price decline scenario on March 24, 2026. This would indicate a breakout of the resistance area and continued price growth above 5365. Expect the XAU/USD price decline to accelerate with a breakout of the support area and a price close below 4305.
GOLD Forecast and XAU/USD Analysis for March 24, 2026 suggests an attempt to develop a bullish price correction and test the resistance area near 4645. Subsequently, a continued decline in base metal prices with a target below 3805. A strong rally in the market and a breakout of 4885 would cancel the gold price decline scenario. This would indicate a continued rise in gold with a potential target above 5365.
