Lower levels of volatility may assist in the further move to the upside in the near term.
XAU/USD short-term forecast
XAU/USD Gold maintains a strong bullish bias near 4418.00, supported by ongoing safe-haven demand amid elevated geopolitical uncertainty. Technically, price action has fully recovered from the late December dip toward 4270.00, confirming a renewed upside structure. Key support is firmly set at 4385.00, while upside focus remains on the psychological 4500.00 level, followed by the record high zone at 4550.00 to 4560.00. Momentum remains constructive, with a positive MACD and an RSI near 71.50, reflecting trend strength rather than reversal risk.
XAU/USD daily charts review
XAU/USD remains in a clear bullish daily trend, with higher highs and higher lows intact since the November base. The recent pullback from the 4580.00 to 4600.00 area appears corrective, and price is now consolidating around 4410.00 above former resistance, suggesting underlying demand remains strong. Key support is located near 4235.00, which must hold to maintain the bullish structure. A daily close below this level would weaken the upside bias, a breakout would signal trend continuation. RSI has cooled to around 60.00 after previously being overbought, indicating healthy momentum reset rather than reversal. Overall, price action favors consolidation or continuation higher as long as support holds.Daily Candle Chart
Traders going long
XAU/USD represents the price of gold in U.S. dollars. The market currently shows a bullish sentiment, with approximately 66.62% of retail traders holding long positions as prices trade near 4413.00.