XAU/USD quotes continue to move within a strong decline and descending channel. At the time of publication of this forecast, the price of gold today is $4,465 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 the gold price and a test of the resistance level near 4,515. From there, we should expect a downward rebound and a continued decline in the gold price, with a potential target below 4,285.
GOLD Forecast and XAU/USD Analysis for May 21, 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 upper boundary of the bearish channel. The decline in gold prices on May 21, 2026, would be cancelled by a strong rise in prices and a breakout of 4645. This would indicate a breakout of the resistance area and continued growth in the asset’s price above 4795. Expect the XAU/USD price to accelerate its decline with a breakout of the support area and a price close below 4415, which would indicate a breakout of the lower boundary of the descending channel, signaling a decline by the channel’s width.
GOLD Forecast and XAU/USD Analysis for May 21, 2026 suggests an attempt to develop a bullish price correction and test the resistance area near 4515. Subsequently, base metal prices are expected to continue to decline, with a target below 4285. A strong rally in the market and a breakout of 4645 would cancel out the downward trend in gold prices. This would indicate a continued rise in gold prices, with a potential target above 4795.
