FX.co ★ XAU/USD, GOLD

Analysis and forecast for the trading instrument GOLD based on technical analysis Towards the end of the week, the trading instrument Gold showed a significant decline. This wasn't a big surprise, as the downtrend was evident and the price had been holding below the 4500 level for quite some time. However, the extent of the price drop may have been unexpected. Overall, this wasn't entirely new for Gold, as there weren't any specific reasons for such a significant decrease. It could be seen as a release of the pressure that had been building up throughout the week. Now it makes sense to think about what to expect from the trading instrument GOLD next week. If the market opens without surprises, the downtrend is likely to continue. The challenge is that the price has already surpassed all my bearish targets. I don't think Gold will drop to 4000 in the near future. If the price can't hold below 4400, then serious consideration can be given to buying, and the target of 4600 still seems achievable to me.