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Gold (XAU/USD) Price Forecast: Bull Trend Reasserts Toward Record Highs
FX Empire· 2026-01-06 21:53
Core Viewpoint - The gold market is showing signs of a potential continuation of the bull trend, aiming for a record high of $4,550, but faces resistance from a trading range established by previous bearish activity [1]. Group 1: Bullish Indicators - A dynamic support for the bull trend was confirmed with a bounce off the 20-day average, indicating bullish behavior at a key trend indicator [2]. - The recent minor pullback after reaching a new record high showed support at the top trendline of a rising trend channel, suggesting improving bullish momentum [2]. Group 2: Price Targets - The first new high target zone for gold is identified between $4,664 and $4,713, with additional levels at $4,766 and $4,942, based on long-term measurements and extensions of previous corrections [3].