XAUUSD Technical Analysis and Gold Price Forecast | Forex
Explore the latest XAUUSD technical analysis and gold price forecasts for 2024 and beyond. Learn about potential targets, market trends, and factors influencing gold prices, with predictions ranging from $2,000 to $4,649 per ounce.
theinvestingforex
1. Gold Price Forecast| Targets | Trends and Market Outlook
The XAUUSD pair is showing strong indications of continuing its medium-term uptrend, with technical analysis suggesting a potential breakout above the August highs. Should gold prices rise, the next significant target will be the Target Zone between 2536 and 2526. Analysts are generally optimistic about gold's performance in 2024, with expectations that it will trade between $2,421.00 and $2,651.00. However, more conservative projections suggest a possible decline, with prices potentially settling in the $2,000.00 to $2,133.00 range.
Some forecasts are particularly bullish, predicting an unprecedented surge to between $2,750.23 and $2,810.76 per ounce. According to LongForecast, the rally could extend into 2025, reaching up to $2,799.00. By the first quarter of 2026, experts anticipate fluctuations between $2,441.00 and $2,882.00, with a potential dip to $2,566.00 by the year's end.
Looking further ahead, Coin Price Forecast predicts that gold could climb as high as $4,649.00 per ounce between 2026 and 2030, although more conservative estimates place the price around $2,800.00.
The XAUUSD rate remains highly dependent on several key factors, including interest rates, global supply and demand dynamics, geopolitical tensions, currency devaluations against rising global inflation, and fluctuations in world currencies. If gold breaches the Target Zone between 2536 and 2526, the next bullish target could be the Target Zone between 2641 and 2631, signaling further upward momentum.
