Gold concludes the trading week with a decline, hovering near the 4024 area. XAU/USD quotes continue to move within a downward trend, forming a “Head and Shoulders” reversal pattern. While moving averages suggest an overall uptrend for Gold, prices have broken below the area between the signal lines—a development that reflects pressure from buyers and points to the potential for further price growth. In the near term, we should anticipate an attempt at a decline, testing the support level near 3995. This is expected to be followed by an upward rebound and continued growth for XAU/USD throughout the current trading week, with a potential target above the 5165 level.
GOLD Weekly Forecast XAUUSD October 26 – 30, 2026
An additional signal supporting a rise in Gold prices during the week of October 26–30, 2026, is a rebound from the support line on the Relative Strength Index (RSI) indicator. A second signal is a rebound from the lower boundary of the “Head and Shoulders” reversal pattern. The bullish outlook for XAU/USD would be invalidated if the price falls and breaks through the 3705 area. Such a move would signify a breach of the lower boundary of the bullish channel, leading to a further decline in Gold prices toward a target below 3345. Conversely, confirmation of an increase in the asset’s value would come from a breakout above the resistance area, with quotes closing above 4465—indicating a breach of the upper boundary of the descending channel.
GOLD Weekly Forecast XAUUSD October 26 – 30, 2026 suggests an attempt to develop a bearish correction and test the support level near the 3995 area. This would be followed by a resumption of the rise in gold prices, targeting levels above 5165. A test of the trend line on the Relative Strength Index (RSI) indicator would support an upward move. The bullish scenario for gold would be invalidated if the price falls and breaks below the 3705 level; this would signal a continued decline toward the area below 3345.
