XAUUSD is rebounding from the support level, currently trading at 3,331 USD. Discover more in our analysis for 24 April 2025.
XAUUSD forecast: key trading points
- Strong fundamental factors drive demand for Gold
- Investors view buying on price declines as the optimal strategy in current conditions
- XAUUSD forecast for 24 April 2025: 3,465
Fundamental analysis
XAUUSD quotes are recovering after two days of losses. The decline was driven by rising risk appetite, following statements from Donald Trump about potentially lowering tariffs on Chinese goods and reaching a trade agreement with Beijing.
US Treasury Secretary Scott Bessent said on Wednesday that the current level of tariffs between the US and China is unsustainable and should be reduced before new talks can begin. However, he stressed that Trump has no plans to unilaterally lift tariffs on Chinese imports.
Market participants believe the bullish trend in Gold will continue unless the White House demonstrates a genuine shift in its trade policy. For now, strong fundamentals continue to support demand for Gold, with buying on dips remaining the preferred strategy.
XAUUSD technical analysis
XAUUSD prices are rising within an ascending channel after rebounding confidently from the lower boundary. A Head and Shoulders reversal pattern is forming on the chart, which adds to expectations of a continued upward move. The XAUUSD forecast for 24 April 2025 anticipates a minor correction towards the 3,300 USD level, followed by a rally targeting 3,465 USD.
Technical indicators support the bullish outlook, with Moving Averages pointing upwards and the Stochastic Oscillator leaving oversold territory, with a bullish crossover of %K and %D lines. A breakout above the resistance level will confirm the bullish scenario, with prices consolidating above 3,365 USD.
Summary
XAUUSD prices are recovering after their recent decline, supported by expectations of a shift in US trade policy and strong fundamentals, driving demand for Gold. Today’s XAUUSD analysis signals a high probability of continued bullish momentum, with a target at 3,465 USD, reinforced by a Head and Shoulders reversal pattern and signals of technical indicators.
