GOLD ends the trading week with a correction near the 3262 area. XAU/USD quotes continue to move within the decline and bullish channel. Moving averages indicate an upward trend for Gold. Prices have broken through the area between the signal lines upwards, which indicates pressure from buyers and potential continued price growth. At the moment, we should expect an attempt to develop a bearish price correction and a test of the support level near the 3155 area. Further, a rebound in prices upwards and continued growth of XAUUSD in the current trading week with a potential target above the 3775 level.
GOLD Weekly Forecast May 5 — 9, 2025
An additional signal in favor of growth in quotes and prices for Gold in the current trading week of May 5 — 9, 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 bullish channel. The cancellation of the option for the rise in XAU/USD quotes will be a price drop and a breakout of the 3105 area. This will indicate a breakout of the lower boundary of the bullish channel and a continuation of the fall in Gold prices with a target below the 2745 level. The growth in the asset value will be confirmed by a breakout of the resistance area and closing of quotes above the 3375 level.
GOLD Weekly Forecast May 5 — 9, 2025 suggests an attempt to develop a bearish correction and test the support level near the 3155 area. Then, the continuation of the growth in Gold prices with a target above the 3775 level. A test of the trend line on the relative strength indicator will be in favor of the rise in quotes. The cancellation of the option for the growth of Gold will be a fall and a breakout of the 3105 level. This will indicate a continuation of the decline in quotes to the area below the 2745 level.
Looking for the Best Forex Broker? We trade at RoboForex. You can receive a rebates from each trade when registering using our partner link
