Gold/XAU USD quotes continue within the context of a bear correction and bull channel development. At the time of publishing, today’s Gold price is $3306 per Troy Ounce. Moving averages indicate a short-term bearish trend. Prices have pierced the area between signal lines upwards, which indicates pressure from the buyers of the asset and potential continuation of growth already from current levels. Currently, it’s expected to anticipate the development of a bear correction in gold course and testing of support level near around 3275 region. From where an upward bounce is anticipated and continuation of price rise on Gold with a potential target above the level of 3465.
GOLD Forecast and XAU/USD Analysis for May 23, 2025
Additional signals for a potential drop in XAU/USD prices would be testing the support line on the Relative Strength Index (RSI) indicator. A bounce off the lower boundary of the bull channel serves as a second signal. The option for gold price growth on May 23, 2025 is invalidated by a fall in prices and breaking through the level of 3345. This will indicate that support levels have been breached, leading to continued drop in asset prices below the level of 3275. An acceleration towards an increase in XAU/USD price expectations can be anticipated upon breaching the resistance zone with closing above the level of 3355, indicating a breakthrough the upper boundary of the corrective channel’s downward swing.
GOLD Forecast and XAU.USD Analysis for May 23, 2025 anticipates an attempt to develop a bearish price correction and testing the support area near 3275. Then, continuation of metal prices increase towards a level higher than 3465. An increase in Gold’s price will be cancelled by the drop in the asset’s value on markets and breaking through the level 3345. This will indicate the continuation of gold price reduction with potential targets below 3275.
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