Gold ends the trading week with a correction near the 3332 area. Quotes XAU/USD continue to move within the development of the rise and the formation of the “Triangle” pattern. Moving averages indicate the presence of an upward trend in Gold. Prices broke through the area between the signal lines upwards, which indicates pressure from buyers and potential continuation of price growth. At this point, we should expect a bearish correction attempt and a test of the support level near the 3260 area. Further, a rebound in prices upward and continuation of XAUUSD growth in the current trading week with a potential target above the 3745 level.
GOLD Weekly Forecast XAU/USD July 7 — 11, 2025
An additional signal in favor of the growth of Gold quotes and prices in the current trading week July 7 — 11, 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 boundary of the Triangle pattern. The option of XAU/USD quotes rise will be canceled by the price drop and breakdown of the 3145 area. This will indicate the breakdown of the lower boundary of the bullish channel and the continuation of the decline in Gold prices with the target below the level of 2965. The confirmation of the growth of the asset value will be the breakdown of the resistance area and closing of the quotes above the level of 3505, which will indicate the breakdown of the upper boundary of the “Triangle” pattern and the beginning of the pattern realization with upward targets.
GOLD Weekly Forecast XAU/USD July 7 — 11, 2025 suggests an attempt to develop a bearish correction and test the support level near the 3260 area. Then, the continuation of Gold prices growth with a target above the level of 3745. A test of the trend line on the relative strength indicator will be in favor of the quotes’ rise. A fall and breakdown of the level 3145 will cancel the variant of Gold growth. This will indicate the continuation of quotes decline to the area below the level of 2965.
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