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Gold (XAU/USD) Price Prediction: Analysts Eye $5,140 Rebound Before Potential Drop to $4,800
Gold (XAU/USD) Price Prediction: Analysts Eye $5,140 Rebound Before Potential Drop to $4,800
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Gold prices hover near $5,090–$5,100 after retreating from recent highs above $5,200. Analysts warn of a potential deeper pullback to $4,800 if key resistance levels hold, despite a possible near-term bounce toward $5,140.
A head-and-shoulders pattern on the broader chart suggests vulnerability, with the neckline at $5,100 acting as a critical threshold. Breaching this level could accelerate declines toward $4,800, according to technical analysts.
Short-term charts show gold testing a crucial support zone between $5,053 and $5,065. Market sentiment remains cautious as traders weigh the metal's ability to stabilize above psychological support at $5,000.
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