Gold (XAU/USD) Weekly Price Forecast: Can Bulls Defend Key Support?

Key Takeaways: Gold’s Weekly Performance

• Gold prices fell sharply, breaking below $3,200 before a slight recovery.

• $3,200 remains a critical level—reclaiming it could signal bullish momentum.

• If support fails, a drop toward $3,000 (a major psychological level) is possible.

• Long-term resistance at $3,500 remains a tough barrier for bulls.

Gold’s Weekly Price Action: A Battle for Control

Gold (XAU/USD) faced heavy selling pressure this week, slipping below the key $3,200 support level. However, a late-week rebound suggests buyers are still defending downside moves.

Technical Outlook: Bullish Trend Intact

Despite the pullback, gold remains in an overall uptrend. The recovery on Thursday and Friday indicates that bulls are not ready to surrender yet.

Key Levels to Watch:

✅ Upside Breakout: A decisive move above $3,200\ast \ast couldreignitebullishmomentum,targeting\ast \ast$3,500 (a major resistance zone).
⚠ Downside Risk: If gold breaks below this week’s low, the next major support sits at $3,000—a psychologically significant level that could attract buyers.

Market Sentiment: Why Gold Still Holds Appeal

While recent easing in trade war tensions has reduced some safe-haven demand, uncertainty remains:

• Geopolitical risks (Middle East tensions, US-China relations)

• Inflation concerns and potential Fed policy shifts

• Weaker USD could support gold prices

Should You Buy Gold Now?

• Aggressive traders may wait for a confirmed break above $3,200 before entering.

• Patient buyers could look for a dip toward $3,000 for better risk-reward opportunities.

Final Verdict: Gold’s Next Move Hinges on $3,200

Gold’s short-term direction depends on whether it can hold or reclaim $3,200\ast \ast .Whilethe\ast \ast long-termuptrendremainsintact\ast \ast ,tradersshouldwatchfor:🔹\ast \ast Breakabove$3,200 → Bullish continuation
🔹 Break below weekly low → Potential drop to $3,000

📊 Stay updated with live gold prices and economic events on our Economic Calendar.

Disclaimer: Trading gold involves risk. Always conduct your own analysis before making investment decisions.