FX.co ★ XAU/USD, GOLD

Gold Price Movement Analysis: We are currently researching and analyzing the trends in gold prices. The rise continued on Friday, forming a bullish candlestick that surpassed the previous day's high. There is a possibility that it will test the recent resistance level of 4717.68. If it moves above this level, it is likely to rise further towards the resistance levels of 4775.10 and 4808.10. However, if the candlestick reverses and the overall trend returns to sideways, these resistance levels are likely to rise further. We recognize the possibility of further rises, but there are currently no signs of a sharp increase. If it approaches the resistance level of 4717.68, a reversal candlestick may form, and the downtrend may resume. In this case, we recommend waiting until the price returns to the support levels of 4673.61 or 4639.80 and looking for bullish signals indicating the possibility of a continued rise.

Next week, we expect the recent resistance levels to be tested, and the subsequent movement will depend on market conditions. Gold prices have remained in a range for the past two trading days without significant fluctuations. A rise to the 4718.10 level is still possible, but the timing is uncertain. A pullback to around 4694.10 cannot be ruled out, which would weaken the buy signal and increase the likelihood of a market reversal. Therefore, a specific target price will likely be set tomorrow. The ideal scenario is that after breaking through the resistance line, a pullback indicating increased demand occurs, creating a buying opportunity. Selling gold is difficult at present, but the situation will improve as the market experiences healthy daily fluctuations.