The prices of XAU/USD continue moving within the framework of a rising trend development and have left the boundaries of the descending correction channel. At the time of this forecast’s publication, the price of Gold in US dollars per Troy Ounce is $3321. Moving averages indicate the presence of a short-term upward tendency. Prices pierced 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 would be appropriate to anticipate an attempt at developing a bearish correction in the gold price course, expecting a test of the support level near the region of 3290. From where one should expect a rebound upwards and continuation of the rise in the gold price with a potential target above the level of 3435.
GOLD Forecast and XAUUSD Analysis for May 30, 2025
Additional signals favoring a decline in the price of XAU/USD would be testing the support line on the Relative Strength Index (RSI) indicator. A second signal is a bounce off the upper border of the bear channel. Cancellation of the option for gold price increase by May 30, 2025 will come with a drop in prices and breaking through the level of 3225. This would indicate a break of the support area and continued decline in asset prices into the region below the level of 3165. Expect acceleration upwards for XAU/USD prices upon突破the resistance zone and closing price above the level of 3385.
GOLD Forecast and XAUUSD Analysis for May 30, 2025 anticipates an attempt at developing a bearish price correction and testing the support area near the level of 3290. Then, continuation of metal prices increase towards the target above the level of 3435. An increase in gold’s price variant will be cancelled by the drop in the asset’s value on markets and breaking through the level of 3225. This will indicate a continuation of the gold price decline with a potential target below the mark of 3165.
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