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 upward trend in gold. Prices have broken above 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 4185 area. Subsequently, we expect an upward rebound and continued growth in XAUUSD this trading week, with a potential target above 4975.
GOLD Weekly Forecast XAU/USD August 17 – 21, 2026
An additional signal favoring growth in gold quotes and prices this trading week (August 17-21, 2026) will be a rebound from the support line on the relative strength indicator (RSI). The second signal will be a rebound from the upper boundary of the “Wedge” reversal pattern. A price decline and a breakout of the 3835 area will cancel out the upward trend in XAU/USD quotes. This will indicate a breakout of the lower boundary of the bullish channel and a continued decline in gold prices with a target below 3365. A breakout of the resistance area and a close above 4565 will confirm the asset’s price growth.
GOLD Weekly Forecast XAU/USD August 17 – 21, 2026 suggests an attempt to develop a bearish correction and test the support level near 4185. Then, gold prices will continue to rise with a target above 4975. A test of the trendline on the relative strength indicator (RSI) will support an upward trend. A decline and a breakout of 3835 would cancel out the gold rally. This would indicate a continued decline below 3365.
