GOLD outlook

Note: This section contains information in English only.
Source: Dukascopy Bank SA
Gold has continued it sideways trading during the previous trading week, closing at 3360.00.

Economic Calendar Analysis


In the absence of significant geopolitical developments, lower levels of volatility should be considered the primary scenario for gold. The likelihood of increased volatility remains low under current conditions.

XAU/USD short-term forecast



Gold is in a clear short-term downtrend on the hourly chart, trading below both the 30 and 60-period moving averages. The price is currently attempting a minor bounce from the 3312.00 support level and is now testing the 30-period moving average as its first line of resistance. The overall outlook remains bearish. A failure at this resistance would likely see a retest of the 3312.00 low. Only a decisive break above the moving averages would challenge the current downward momentum.

Hourly Chart

XAU/USD daily charts review

The daily chart for Gold shows a prolonged period of sideways consolidation following a strong prior uptrend. The market is currently directionless, trading within a well-defined range between the major support at 3285.00 and a strong resistance zone of 3410.00-3450.00. This neutrality is confirmed by the Relative Strength Index (RSI), which is hovering around the 50 mark and indicates a balance between buyers and sellers.

The outlook will remain neutral until a decisive breakout from this range occurs. A sustained daily close above 3450.00 would signal a bullish continuation of the long-term uptrend. Conversely, a breakdown below the 3285.00 support would be a significant bearish signal, likely triggering a deeper correction. The market is awaiting a catalyst to determine Gold's next major trend.

Daily Candle Chart


Traders going long

Continuing previous weeks bullish momentum 55.40 % of volume was in long positions. Traders are still going long.

In the 1000 point range around the latest price, the pending orders were 23 % to sell the metal.

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