GOLD ends the trading week with growth near the 2645 area. XAU/USD quotes continue to move within the correction and the formation of the “Triangle” model. Moving averages indicate a bullish trend for Gold. Prices are again testing the area between the signal lines, which indicates pressure from buyers and a potential continuation of price growth. At the moment, we should expect an attempt to develop a decline in prices and a test of the support level near the 2625 area. Next, an upward rebound in prices and continued growth of XAUUSD with a potential target above the level of 2975.
GOLD Forecast January 6 — 10, 2025
An additional signal in favor of growth in quotes and prices for Gold in the current trading week of January 6 — 10, 2025 will be a rebound from the trend line on the relative strength indicator (RSI). The second signal will be a rebound from the lower border of the “Triangle” pattern. The cancellation of the growth option for XAU/USD quotes will be a price drop and a breakout of the 2485 area. This will indicate a breakout of the support level and a continuation of the fall in Gold prices with a target below 2415. The growth in the asset value will be confirmed by a breakout of the resistance area and closing of quotes above 2755, which will indicate a breakout of the upper border of the “Triangle” pattern and the beginning of the implementation of the pattern with targets at the top.
GOLD Forecast January 6 — 10, 2025 suggests an attempt to develop a decline and test the support level near the 2625 area. Then, continued growth in Gold prices with a target above 2975. A test of the trend line on the relative strength indicator will be in favor of the rise in quotes. The cancellation of the growth option for Gold will be a fall and a breakout of the 2485 level. This will indicate a continuation of the decline in quotes to the area below 2415.
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