Gold is ending the trading week with a sharp decline near the 5088 area. XAU/USD quotes continue to move within a bullish channel. Moving averages indicate an uptrend in gold. Prices have broken above the signal lines, indicating buying pressure and potential further price growth. Currently, we expect an attempt at a bearish price correction and a test of support near the 4575 area. Further upward price rebounds and continued growth in XAUUSD this trading week, with a potential target above 5975.
GOLD Weekly Forecast XAUUSD February 2 – 6, 2026
An additional signal favoring growth in gold quotes and prices this trading week (February 2-6, 2026) will be a rebound from the bullish trendline on the relative strength indicator (RSI). A second signal will be a rebound from the upper boundary of the ascending channel. A price decline and a breakout of the 4155 area would cancel the upward trend in XAU/USD. This would indicate a breakout of the lower boundary of the bullish channel and a continued decline in gold prices with a target below 3735. A breakout of the resistance area and a close above 5205 would confirm the asset’s upward trend.
GOLD Weekly Forecast XAUUSD February 2 – 6, 2026 suggests an attempt to develop a bearish correction and test the support level near 4575. Then, gold prices will continue to rise with a target above 5975. A test of the trendline on the relative strength indicator (RSI) would support an upward trend. A decline and a breakout of 4155 would cancel out Gold’s growth scenario. This would indicate a continued decline below 3735.
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