7.5 Jince Gold Next Week Forecast: Gold Makes a Violent Rally, Hitting a New Phase High! Can We Still Chase a Long Next Week?

This week, gold staged a one-way surge. After finding support at the low of 3943, the price continued to rebound. Midweek, it accelerated sharply and broke above the 4100 level, topping out at 4195. The gain for the week exceeded 6%, and bullish sentiment surged across the board.

From the news perspective, the Federal Reserve has sent clear signals of potential rate cuts. The US Dollar Index continues to weaken, while geopolitical uncertainty has heated up. As global safe-haven demand rises, central banks around the world have continued adding to their gold holdings. Multiple positive factors are converging, providing strong momentum for gold prices to climb.

From a technical perspective, on the 2-hour timeframe, the gold price is trading along the upper Bollinger Band. The moving average system is aligned bullishly, and the uptrend is clear. However, short-term indicators are in the overbought zone, and there is a need for a pullback and corrective repair during this high-level consolidation. For support, focus on the 4100–4090 area. For resistance, first look to the previous high at 4195; after a breakout, it may be able to target the 4250 area.

Trading reference: Buy in batches after pullbacks in the 4130–4150 range, with targets at 4180, 4200, and 4250. $XAUT