XAU/USD quotes continue to move within the framework of the growth and bullish channel development. At the time of the forecast publication, the price of Gold for today is 3224 Dollars per Troy Ounce. Moving averages indicate the presence of a short-term bullish trend. Prices have broken through the area between the signal lines upwards, which indicates pressure from asset sellers and potential continuation of growth from the current levels. At the moment, we should expect an attempt to develop a fall in gold and a test of the support level near the 3205 area. From where we should expect an upward rebound and continued growth in the price of Gold with a potential target above the level of 3335.
GOLD Forecast for April 16, 2025
An additional signal in favor of the growth of XAU/USD quotes will be a test of the support line on the relative strength indicator (RSI indicator). The second signal will be a rebound from the lower border of the bullish channel. The cancellation of the growth scenario for Gold prices on April 16, 2025 will be a fall in prices and a breakout of the 3115 level. This will indicate a breakout of the support area and a continuation of the fall in asset quotes to the area below the 3045 level. It is worth expecting an acceleration of the growth of XAU/USD quotes with a breakout of the resistance area and a price close above the 3265 level, which will indicate a breakout of the upper border of the bullish channel.
GOLD Forecast and Analysis for April 16, 2025 suggests an attempt to develop a bearish price correction and test the support area near the 3205 level. Further, the continuation of the growth of non-ferrous metal quotes with a target above the 3335 level. The cancellation of the growth scenario for Gold prices will be a fall in the value of the asset on the markets and a breakout of the 3115 level. This will indicate a continuation of the decline in the price of Gold with a potential target below the 3045 mark.
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