XAU/USD quotes continue to move in a downward trend and have broken out of the bullish channel. At the time of this forecast, the price of gold today is $4,670 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 4,705. From there, we expect a downward rebound and a continued decline in gold prices, with a potential target below 4,535.
GOLD Forecast and XAU/USD Analysis for May 15, 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 lower boundary of the bullish channel. A strong rally and a breakout of 4805 would cancel the gold price decline scenario on May 15, 2026. This would indicate a breakout of the resistance area and continued price growth above 4915. Expect the XAU/USD price decline to accelerate with a breakout of the support area and a price close below 4655.
GOLD Forecast and XAU/USD Analysis for May 15, 2026 suggests an attempt to develop a bullish price correction and test the resistance area near 4705. Subsequently, a continued decline in base metal prices with a target below 4535. A strong rally in the market and a breakout of 4805 would cancel the gold price decline scenario. This would indicate a continued rise in gold with a potential target above 4915.
