FX.co ★ king.zelda | XAU/USD, GOLD

Hello traders, GOLD / Gold / XAUUSD. Gold quotes continued their downward movement last trading week, starting from the $4850 per troy ounce area and reaching $4500 during the week, followed by some rebound towards the end of the week. Despite this, the technical picture remains unchanged, still indicating a bearish direction. Therefore, it is likely that we will see a further decline towards the $4400 area next week. However, before that, a minor correction towards $4700 is possible, from where we may start a new wave of gradual decline, as gold has accustomed us to over the past few months.