Gold recently retested the 4000.00 price level and subsequently bounced back to 4300.00.
Forward guidance from the Federal Reserve may prove crucial, given that gold prices have climbed back to levels seen at the beginning of 2026. As a result, market participants may begin to reassess the strength of the inflation-hedge narrative supporting gold.
XAU/USD short-term forecast
4-hour XAU/USD intraday structure highlights a V-shaped recovery following a sharp liquidation down to a local swing low near 4050, which briefly undercut the 4075.0000 horizontal support level. This impulsive upward retracement has carried the price back to test the key horizontal resistance ceiling at 4370.0000, where the market is currently consolidating within a minor pullback at 4326.835.
XAU/USD Daily chart
The XAU/USD price action on the daily time frame reflects a persistent bearish structure defined by a descending channel on the daily time frame, where the asset has consistently registered lower highs and lower lows. The price is currently oscillating near a pivotal level of 4328.035, having recently rejected the lower boundary of the channel, which highlights the critical tension between maintaining the established downtrend and finding support near the 4000.000 handle.Daily Candle Chart
Traders going long