Gold (XAU/USD) Price Forecast: Bullish Reversal Signals Further Gains

Core Insights - A rising ABCD pattern indicates potential price movements, with an initial upside target set at $5,345, based on the CD leg matching the AB leg rise [1] - The identified pivot point at $5,345 also aligns with a 78.6% Fibonacci retracement, enhancing its significance as a resistance level [2] - Gold's price may trend towards a record high of $5,598, supported by the recovery of moving averages, indicating improved demand [3] - A recent bearish correction of 21.4% appears to have reached a bottom, with support confirmed at $4,402, suggesting potential for further upside [4]