Gold price advances on Tuesday as the US Dollar (USD) remains on the back foot and amid falling US real yields, which typically correlate inversely to bullion prices.
The euro was once again the strongest major currency last week, while the Swiss franc was the weakest. Volatility decreased during this time, as only 11% of the most important Forex currency pairs and crosses changed in value by more than 1%.
The current view suggests XAUUSD has completed a 5-waves pattern in the cycle from the 2832.2 low. GOLD is now forming a wave ((ii)) black correction. The price shows an incomplete sequence in the decline from the peak.
Gold price (XAU/USD) sticks to its positive bias through the early European session on Thursday and remains close to the all-time peak touched on February 24.
GOLD Forecast Today 12.3.2025 |XAUUSD Analysis |XAUUSD Trading Strategy #xauusd #goldanalysis #gold
Today you will see Gold price prediction based on technical analysis. What is the support and resistance on the daily time frame for XAUUSD?
Gold price (XAU/USD) builds on its intraday ascent beyond the $2,900 mark, hitting a fresh daily high during the first half of the European session and reversing a major the previous day's losses to a one-week low.
Gold price retreats as the week begins, down 0.70%, and falls below the $2,900 figure as investors’ fears of a recession in the United States grow amid controversial trade policies implemented by US President Donald Trump.
The US dollar rallied during the course of the week as it turned around to break above the JPY150 level. The USD/JPY currency pair recently formed a bit of a double bottom on the chart, while the 50-week EMA above has been offering resistance.
