Gold (XAU/USD) Price Forecast: Bull Trend Reasserts Toward Record Highs
Author: Bruce Powers
Published: January 6, 2026
Overview
The article discusses the recent performance of gold prices, highlighting a strong rebound from a 20-day support level. Gold has reclaimed key moving averages, reinforcing a bullish trend, although potential overhead resistance may temper its momentum as it approaches record highs.
Key Highlights
- Gold prices extended their rally, reaching a five-day high of $4,494.
- The 10-day moving average was reclaimed, confirming it as dynamic support.
- A higher daily low of $4,428 indicates a bullish trend shift.
- Despite the bullish indicators, a range of resistance from a bearish candle on December 29 could slow the advance toward new highs.
Technical Analysis
The article emphasizes the importance of the 20-day moving average and the top trendline of a rising trend channel as key support levels. The recent minor pullback after a record high was seen as a healthy correction, with support confirmed at $4,274.
Price Targets
Several price targets are identified for gold's potential upside, with the first target zone ranging from $4,664 to $4,713. A further target at $4,766 is also noted, with a significant level at $4,942, which corresponds to a 450% extension of a previous bearish correction.
Conclusion
Overall, the article presents a cautiously optimistic outlook for gold prices, suggesting that while the bull trend is strong, traders should remain aware of potential resistance levels that could impact momentum. The analysis combines both technical indicators and market behavior to provide a comprehensive view of gold's trajectory.
About the Author
Bruce Powers is a seasoned finance professional with over 20 years of experience in financial markets. He holds an MBA and is a CMT® charter holder, having worked as head of trading strategy at hedge funds and as a corporate advisor for trading firms.