Gold (XAU/USD) Price Forecast: Rebounds After Two-Day Pullback, Buyers Regain Control

Core Viewpoint - The gold market is currently facing resistance and consolidation, with key price levels indicating potential future movements and the need for caution in trading strategies [1][2][3][4] Price Targets - The next significant price target for gold is $3,734, based on a 161.8% Fibonacci extension, but higher resistance exists between $3,782 and $3,812, supported by multiple technical objectives [1] - A sustained price above $3,707 would shift focus towards the $3,782 - $3,812 target zone, indicating bullish momentum [4] Market Behavior - Gold has been consolidating within a broad range for the past nine sessions, with recent demand showing that buyers are still active during price dips [2] - A drop below $3,628 would undermine recent bullish activity and could lead to deeper retracement levels, with initial targets at $3,576 and $3,558 [3] Outlook - Maintaining a weekly close above $3,675 is crucial for confirming bullish strength, while weakness below $3,628 could signal a potential pullback [4]