GOLD is ending the trading week with growth near the 2927 area. XAU/USD quotes continue to move within the bullish channel. Moving averages indicate an upward trend in Gold. Prices have broken through the area between the signal lines upwards, which indicates pressure from buyers and a potential continuation of price growth. At the moment, we should expect an attempt to develop price growth and a test of the resistance level near the 2945 area. Next, a downward price rebound and a continuation of the fall of XAUUSD with a potential target below the level of 2735.
GOLD Weekly Forecast February 24 — 28, 2025
An additional signal in favor of a decrease in quotes and prices for Gold in the current trading week of February 24 — 28, 2025 will be a rebound from the trend line on the relative strength indicator (RSI). The second signal will be a rebound from the upper border of the bullish channel. The cancellation of the XAU/USD quotes fall option will be a strong price growth and a breakout of the 3025 area. This will indicate a breakout of the upper border of the bullish channel and continued growth in Gold prices with a target above 3145. The asset price fall will be confirmed by a breakout of the support area and closing of quotes below 2905.
GOLD Weekly Forecast February 24 — 28, 2025 suggests an attempt to develop an increase and test the resistance level near the 2945 area. Then, a continuation of the fall in Gold prices with a target below 2735. A test of the trend line on the relative strength indicator will be in favor of a fall in quotes. The cancellation of the Gold decline option will be a strong growth and a breakout of the 3025 level. This will indicate continued growth in quotes to the area above 3145.
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