The price of Gold (XAU/USD) is currently trading at approximately $4,982.40 per ounce as of January 24, 2026. The precious metal has experienced a significant surge, posting its largest weekly gain in nearly six years, driven primarily by strong safe-haven demand and a weaker US Dollar.
Key Insights
Bullish Momentum: Gold is currently in a strong bullish trend, with technical indicators and price action forming a clear sequence of higher highs and higher lows. The price has broken out of an ascending channel and is now testing resistance near the key psychological level of $5,000.
Driving Factors: The rally is fueled by persistent US Dollar weakness, stable bond yields, and heightened geopolitical tensions, particularly between the United States and NATO allies and concerns related to China and Russia. Central bank gold purchases are also expected to remain high, providing underlying support.
Upcoming Events: The market is focused on the upcoming US Federal Reserve (Fed) interest rate decision on January 26, 2026, and a speech by the US President on January 28, 2026. Expectations for rates to remain unchanged might limit upside potential, while any surprises could trigger significant volatility.
Analyst Outlook: While some technical indicators like the RSI show overbought conditions, suggesting a potential short-term correction, the overall outlook remains constructive as long as key support levels hold. A confirmed close above $5,000 is needed to fuel the next major leg of the advance.
For real-time charts and detailed technical analysis, you can monitor the XAUUSD feed on platforms like TradingView or read daily forecasts on FXStreet and LiteFinance.
