Gold is ending the trading week with a decline near the 4168 area. XAU/USD quotes continue to move within a developing correction and bullish channel. Moving averages indicate an uptrend in gold. Prices have broken below 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 4125 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 July 6 – 10, 2026
An additional signal of growth in gold quotes and prices this trading week (July 6-10, 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 by a price decline and a breakout of the 3845 area. This would indicate a breakout of the lower boundary of the bullish channel and a continued decline in gold prices with a target below 3325. A breakout of the resistance area and a close above 4205 would confirm the asset’s price increase, signaling a breakout of the upper boundary of the downward correction channel and increasing bullish pressure.
GOLD Weekly Forecast XAU/USD July 6 – 10, 2026 suggests an attempt to develop a bearish correction and test the support level near 4125. Subsequently, gold prices should continue to rise with a target above 4975. A test of the trendline on the relative strength indicator (RSI) would support a price increase. A decline and a breakout of 3845 would cancel out the gold rally. This would indicate a continued decline below 3325.
