Gold Price Forecast: XAU/USD Slumps to Near $3,360, Fails to Break Triangle on Upside

Gold Price Forecast: XAU/USD slumps to near $3,360, fails to break triangle on upside

Gold price (XAU/USD) trades almost 0.7% lower around $3,360 during the European trading session on Thursday.

Gold (XAU/USD) Price Forecast: Bullish Breakout Falters After Bearish Reversal Signal

Non-Confirmation of Breakout Today’s price action does not confirm the bull pennant breakout. It shows a potential failure. However, it may have just been an early signal and it will be followed by another attempt after a rest. Nonetheless, trading continues near the lows of the day currently and gold will close below the top trendline and possibly below yesterday’s low, which would be another sign of weakness. In either case, it looks like gold…

XAU/USD Chart Analysis: Volatility at Its Lowest in a Year

When analysing the XAU/USD chart last week, we:→ noted that the ADX indicator had reached its lowest level since the beginning of 2025 – a clear sign of declining gold price volatility; → highlighted the formation of a large-scale triangle with its axis around the $3,333 level, bounded by a resistance line (marked in red) and the lower boundary of the ascending channel.Since then, the price has climbed above $3,400 – reaching its highest level s…