Gold is ending the trading week with a decline, trading near the 4357 area. XAU/USD quotes continue to move within a downward trend and are forming a “Head and Shoulders” reversal pattern. Moving averages indicate an overall uptrend for Gold. Prices are re-testing the area between the signal lines, suggesting buying pressure and the potential for continued price growth. In the immediate term, a decline and a test of the support level near 4165 are expected. This would likely be followed by an upward rebound and continued XAU/USD growth during the current trading week, targeting levels above 5125.
GOLD Weekly Forecast XAUUSD September 28 – October 3, 2026
An additional signal favoring a rise in Gold prices during the week of September 28 – October 3, 2026, is a bounce off 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 scenario for XAU/USD would be invalidated if the price falls and breaks below the 3805 area. This would signal a break of the bullish channel’s lower boundary and a continued decline in Gold prices, targeting levels below 3355. Confirmation of the asset’s price growth would come from a break of the resistance area and a close above 4735, indicating a breakout above the upper boundary of the “Head and Shoulders” reversal pattern.
GOLD Weekly Forecast XAUUSD September 28 – October 3, 2026 suggests an attempt to develop a bearish correction and test the support level near the 4165 area. This would be followed by a resumption of the rise in gold prices, targeting levels above 5125. A test of the trend line on the Relative Strength Index (RSI) indicator supports the case for a price increase. The bullish scenario would be invalidated by a drop and a breakout below the 3805 level, which would signal a continued decline toward the area below 3355.
