XAU/USD quotes continue within the bounds of an upward and corrective channel retrace. At the time of publishing, the price for Gold is $3241 per Troy ounce. Moving averages indicate a short-term bullish trend. Prices are again testing the area between signal lines, which indicates pressure from buyers of the asset and potential continuation of growth from current levels. Currently, it’s reasonable to expect an attempt at developing a bearish correction in Gold, with a test near the support level around 3165. From there, anticipate a rebound upward and further increase in the price of Gold towards a potential target above the level of 3405.
GOLD Forecast and XAUUSD Analysis for May 20, 2025
Additional indication for a potential decrease in the XAU/USD quotes is when the Support level on the Relative Strength Index (RSI) indicator is tested. Another signal would be when there’s a bounce off the bottom boundary of the bullish channel. Confirmation that Gold prices won’t increase on May 20, 2025 comes with the drop in quotes and breaking through the level of 3085. This will indicate that the Support area has been breached and the decrease in asset quotes should continue to an area below the level of 2845. An acceleration towards increasing XAU/USD quotes is expected upon breaking through the resistance area followed by a closing price above the level of 3345. This signifies that the upper boundary of the downward correction channel has been breached.
GOLD Forecast and XAUUSD Analysis for May 20, 2025 anticipates an attempt to develop a bearish price correction and testing the support area near the level of 3165. Subsequently, continuation of the increase in metal prices towards higher levels above 3405. Confirmation of the price rise scenario for Gold will be a drop in the asset’s value on markets and breaking through the level of 3085. This would indicate continued price depreciation for Gold with a potential target below the marker at 2845.
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