Rising gold imports into India drive XAUUSD higher
XAUUSD quotes continue their steady upward momentum, reflecting a combination of strong fundamental and technical market support. The rate currently stands at 4,365 USD. Discover more in our analysis for 17 October 2025.
XAUUSD forecast: key trading points
- India’s gold imports reached 9.615 billion USD in September 2025
- Renewed US-China trade tensions have strengthened demand for gold as a safe-haven asset
- XAUUSD forecast for 17 October 2025: 4,440
Fundamental analysis
XAUUSD prices continue to rise for the sixth consecutive trading session. According to the latest data, India’s gold imports in September 2025 totalled 9.615 billion USD, up 110% from September 2024 and 80% higher than in August 2025. The upcoming festive season, which traditionally fuels demand for precious metals, is providing additional support to buying activity.
Growth is also driven by renewed trade tensions between the US and China and growing concerns over the ongoing US government shutdown.
Gold’s appeal has further strengthened amid expectations of imminent interest rate cuts in the US. Recent remarks by Federal Reserve Chairman Jerome Powell pointed to signs of a cooling labour market, prompting investors to almost fully price in a 25-basis-point rate cut at the upcoming Fed meeting, with another cut possible in December.
XAUUSD technical analysis
XAUUSD prices continue to move within an ascending channel. Despite the proximity of resistance, buying pressure remains strong. After a short-term correction, the pair held above the EMA-65, confirming sustained bullish momentum.
Today’s XAUUSD forecast expects further growth with the next target near 4,440 USD. The Stochastic Oscillator supports this scenario, rebounding from the trendline and forming a new upward crossover. A confident consolidation above 4,370 USD will reinforce the likelihood of a move towards the upper boundary of the channel.
Summary
The XAUUSD price forecast remains bullish, with potential for continued growth towards 4,440 USD, supported by robust Indian demand, geopolitical uncertainty, and expectations of a Federal Reserve rate cut.