Volatility may arrive in gold market if there are any significant deviations from expected fundamental news releases.
XAU/USD short-term forecast
On the shorter time frame, gold has shown renewed bearish momentum, pushing prices down to test the support level at 3280.00. This move highlights increased selling pressure in the market, as traders react to technical signals and broader sentiment. If this support fails to hold, it could open the door for further declines, with sellers potentially targeting lower levels in the sessions ahead.
XAU/USD daily charts review
Bullishness may push gold closer to 3700.00 if tensions in global markets persist. If bearishness occurs, significant price moves toward 3000.00 may be considered highly plausible.Daily Candle Chart
Traders going long
51.20 % of volume was in long positions. Traders are going long.
Meanwhile, in the 1000 point range around the latest price, the pending orders were 30% to sell the metal.