Gold (XAU/USD) Price Forecast: Consolidates Near Record High, Pullback Risk Rises

Group 1 - The market reached an upside target zone where resistance developed, indicated by rising ABCD patterns, and despite a bearish response, underlying buying pressure remains as gold holds near record highs [1] - A decline below Thursday's low of $3,613 would signal a continuation of the pullback, with critical support levels at $3,537 (38.2% Fibonacci retracement) and $3,500 (prior trend high) [2] - Gold has not seen a meaningful retracement since breaking out of its symmetrical triangle, with a potential decline toward the 20-Day moving average at $3,465, which is currently rising [3] Group 2 - Gold is on track to finish the week above last week's high of $3,600, confirming a weekly breakout and indicating ongoing underlying demand [4] - A decisive advance above the record high of $3,675 would reinstate bullish momentum and open the door to higher targets, starting with the $3,734 price zone [4]