XAU/USD quotes continue to move within a developing correction and bearish channel. At the time of this forecast’s publication, the gold price today is $3955 per troy ounce. Moving averages indicate a short-term bullish trend. Prices are again testing the area between the signal lines, indicating pressure from asset buyers and potential continued growth from current levels. Currently, we expect an attempt at a bullish correction in gold prices and a test of the resistance level near 3975. From there, we expect a downward rebound and continued decline in gold prices, with a potential target below 3855.
GOLD Forecast and XAU/USD Analysis for November 6, 2025
An additional signal favoring a decline in XAU/USD quotes will be a test of the broken support 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 4015 would cancel the gold price decline scenario on November 5, 2025. This would indicate a breakout of the resistance area and continued price growth above 4085. Expect the XAU/USD price decline to accelerate with a breakout of the support area and a price close below 3925.
GOLD Forecast and XAU/USD Analysis for November 6, 2025 suggests an attempt to develop a bullish price correction and test the resistance area near 3975. Subsequently, a continued decline in base metal prices with a target below 3855. A strong rally in the market and a breakout of 4015 would cancel the gold price decline scenario. This would indicate a continued rise in gold with a potential target above 4085.
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