GOLD XAU/USD quotes continue to move within the framework of correction development and a bear channel. At the time of writing the forecast, the price of Gold per Troy Ounce is $3297. Moving averages indicate the presence of a short-term bullish trend. Prices breached the area between signal lines upwards, which indicates pressure from buyers and potential continuation of growth already at current levels. Currently, it is worth expecting an attempt to develop a bearish correction of the gold price course and testing the support level in the vicinity of the area 3235. From where one should anticipate an upward bounce and continuation of the price rise on Gold with a potential target above the level 3505.
GOLD Forecast and XAU/USD Analysis for May 28, 2025
Additional confirmation of the decline in XAU/USD prices will be a test of the support line on the Relative Strength Index (RSI) indicator. The second signal will come from bouncing off the lower border of the bull channel. Cancellation of the price rise option for Gold as of May 28, 2025 is a fall in prices and breaking through the level of 3175. This indicates a break of the support area and continuation of the decline in asset prices to an area below the level of 3045. To expect acceleration of XAU/USD price rise should be with a breach of the resistance area and closing price above the level of 3405, which will indicate breaking through the upper border of the descending channel correction.
GOLD Forecast and XAU/USD Analysis for May 28, 2025 anticipates an attempt to develop a bearish price correction and testing the support area near the level of 3235. Subsequently, continuation of the rise in metal prices with the aim above the level of 3505. The upward movement option on Gold prices will be cancelled by a drop in the asset’s value on markets and breaking through the level of 3175. This will indicate continued price decline for Gold with a potential target below the mark 3045.
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