XAU/USD quotes continue to move within a bearish channel. At the time of this forecast, the price of gold today is $4,003 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. Currently, we expect an attempt at a bullish correction in gold prices and a test of the resistance level near 4,065. From there, we expect a downward rebound and a continued decline in gold prices, with a potential target below 3,845.
GOLD Forecast and XAU/USD Analysis for October 28, 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 upper boundary of the bearish channel. A strong rally and a breakout of 4235 would cancel the gold price decline scenario on October 28, 2025. This would indicate a breakout of the resistance area and continued price growth above 4525. Expect the XAU/USD price decline to accelerate with a breakout of the support area and a price close below 3955.
GOLD Forecast and XAU/USD Analysis for October 28, 2025 suggests an attempt to develop a bullish price correction and test the resistance area near 4065. Subsequently, a continued decline in base metal prices with a target below 3845. A strong rally in the market and a breakout of 4235 would cancel the gold price decline scenario. This would indicate a continued rise in gold prices with a potential target above 4525.
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