XAUUSD Price Forecast: Gold (XAU/USD) faced intense bearish pressure on Friday, marking a failed breakout attempt and a drop toward critical support. The yellow metal slipped to a five-day low of $3,311, losing key support at $3,328 and flashing signs of further downside potential as we head into Monday.
This gold price prediction outlines what to expect next and the levels that matter most.
Gold (XAU/USD) is showing clear signs of a bearish reversal after a failed breakout earlier this week. On Friday, the precious metal broke below key short-term support and formed a lower daily high and low, suggesting sellers have taken back control — at least for now.
As of this writing, gold is trading near the session’s low around $3,311, with immediate support failing to hold at $3,328. This puts the spotlight on a deeper correction, with near-term targets now at $3,295, $3,260, and potentially $3,245.
After Monday’s double breakout — above a downtrend line and previous swing high — optimism grew. But without any real bullish follow-through, the breakout has now failed, and sellers have taken the wheel.
On Friday, gold broke below two trendlines, weakening the short-term uptrend that began from the May low. This drop may shift momentum in favor of a deeper correction, as dynamic support failed to hold.
The 20-day moving average (currently at $3,295) is the first key area to watch. It’s been loosely holding the structure in recent sessions and coincides with the weekly low at $3,296.
However, a breakdown below that level could lead to a test of deeper supports:
$3,260 — aligns with the 50-day moving average
$3,245 — corresponds to the previous swing low (C)
👉 Failed breakouts often lead to aggressive reversals — and this week’s bearish “shooting star” candlestick on the weekly chart adds fuel to that possibility.
The bearish reversal is further validated by the weekly candle: a shooting star formation right after a failed breakout. This is a textbook setup for a deeper retracement.
Unless bulls step in early next week, momentum appears tilted toward a retest of:
$3,260 — higher timeframe support
$3,245 — the base of the failed pattern
Final Thoughts: What’s Next for Gold?
The XAU/USD price forecast for Monday is cautiously bearish. If gold can’t reclaim the $3,328–$3,295 area quickly, sellers may gain momentum and drive prices down to $3,245.
Traders should keep a close eye on macro catalysts and support zone reactions to confirm the direction.
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