GOLD XAU/USD quotes continue within the range of correction development and the bear channel. At the time of this forecast publication, the price of Gold is $3313 per Troy Ounce. Moving averages indicate a short-term upward trend. Prices broke through the area between signal lines upwards, which indicates pressure from buyers of the asset and potential continuation of growth already from current levels. Currently, it’s expected to see an attempt at developing bearish correction in the GOLD price course and testing the support level near the area 3225. From where one can expect a rebound upwards and continued rise in the GOLD price with a potential target above the level 3625.
GOLD Forecast and XAU/USD Analysis for May 29, 2025
Additional signals indicating a decrease in the XAU/USD quotations include testing the support line on the Relative Strength Index (RSI). A second signal would be bouncing off the lower boundary of the bullish channel. Confirmation that there will be no price increase for Gold by May 29, 2025, will come from a drop in prices and breaking below the level at 3165. This will indicate a breakthrough support area and continued decline in asset quotations to an area below the 3045 level. To expect acceleration of price growth for XAU/USD, one should wait for breaking the resistance area and closing price above 3425, which indicates breaking through the upper boundary of the downward channel correction.
GOLD Forecast and XAU/USD Analysis for May 29, 2025 anticipates an attempt at developing a bearish price correction and testing the support area near the level of 3225. Subsequently, continuation of the rise in metal prices towards levels above 3625. The growth option for Gold prices would be invalidated by a drop in the asset’s value on markets and a breakthrough the level of 3165. This will indicate continued price decline for Gold with a potential target below 3045.
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