Gold is ending the trading week with a strong rally near the 4618 area. XAU/USD quotes continue to move within the growth and bullish channel. Moving averages indicate an uptrend in gold. Prices have broken above the signal lines, indicating buying pressure and potential continued price growth. Currently, we expect an attempt at a bearish price correction and a test of the support level near the 4385 area. Further upward price rebounds and continued growth in XAUUSD this trading week, with a potential target above 5235.
GOLD Weekly Forecast XAU/USD January 19 – 23, 2026
An additional signal favoring growth in gold quotes and prices this trading week (January 19-23, 2026) will be a rebound from the bullish trend line on the relative strength indicator (RSI). The second signal will be a rebound from the lower boundary of the ascending channel. A price decline and a breakout of the 4445 area will cancel 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 3785. A breakout of the resistance area and a close above 4705 will confirm the asset’s price growth.
GOLD Weekly Forecast XAU/USD January 19 – 23, 2026 suggests an attempt to develop a bearish correction and test the support level near 4385. Then, gold prices will continue to rise with a target above 5235. A test of the trendline on the relative strength indicator (RSI) will support an upward trend. A decline and a breakout of 4445 would cancel out the gold rally. This would indicate a continued decline below 3785.
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