Gold is ending the trading week with a decline near the 4351 area. XAU/USD quotes continue to move as part of the growth trend and the beginning of the “Wedge” reversal pattern. Moving averages indicate an uptrend in gold. Prices have broken upwards through the area between the signal lines, indicating selling pressure and potential further price declines. Currently, we expect an attempt to lower prices and a test of the support level near the 4045 area. Subsequently, we expect an upward rebound and continued growth in XAUUSD this trading week, with a potential target above 4905.
GOLD Weekly Forecast XAU/USD August 10 – 14, 2026
An additional signal favoring growth in gold quotes and prices this trading week (August 10-14, 2026) will be a rebound from the support line on the relative strength indicator (RSI). A second signal will be a rebound from the lower boundary of the bullish channel. The XAU/USD price increase would be cancelled if the price falls and breaks above 3835. This would indicate a breakout of the lower boundary of the bullish channel and a continued decline in gold prices with a target below 3345. A breakout of the resistance area and a close above 42405 would confirm the asset’s price increase.
GOLD Weekly Forecast XAU/USD August 10 – 14, 2026 suggests an attempt to develop a bearish correction and test the support level near 4045. Then, gold prices would continue to rise with a target above 4905. A test of the trendline on the relative strength indicator (RSI) would support a price increase. A decline and a breakout of 3835 would cancel out Gold’s growth scenario. This would indicate a continued decline below 3345.
