Gold Price Forecast: Next Week, Coming Days and Long Term (XAU/USD)

The support zone around $4,070 has given way. The downward impulse is holding for now in the $4,000 area, and the weekly low is at $3,986.9. From there the price recovers a little. The focus is on the 4,000 mark: as long as it holds, stabilization remains possible.

The 4-hour chart shows the downward impulse in detail. The support zone around $4,070 has given way, and in the $4,000 area the grey trend line has held. From the weekly low at $3,986.9 the price recovers a little.

On the daily chart the support zone has given way. On 9 October gold opened at $4,134.4, rose to $4,207.5 and closed at $4,194.1. In doing so it broke the short-term grey downtrend line from the August high and the longer-term downtrend line from the record high in late January. On Friday, 16 October, gold opened at $4,170.8, rose to $4,198.9, fell to $4,147.4 and closed at $4,165.2. On Friday, 23 October, it opened at $4,025.6, rose to $4,032.7, fell to $3,986.9 and stood at $4,018.7 at 08:01, below the March low and below the support zone.

The red resistance line remains a significant cap. Only a break above it would point to follow-through. Below it lies the resistance zone around $4,220.

The focus is now on the 4,000 mark. As long as it holds, stabilization remains possible. A quote below it, including a new yearly low below $3,942.7, would likely bring more weakness. The daily chart shows no new uptrend; above the resistance zone the next level would be the 2025 high at $4,550.5.

All charts on this page show the spot price (TradingView: GOLD). The monthly and yearly charts show Friday's close on 16 October 2026, exported on 17 October at 09:41 and 09:40 CEST. The weekly, daily and 4-hour charts show the state of 23 October 2026, each at 08:01 CEST. Every caption names its own state. Gold futures trade at slightly different prices than XAU/USD spot.

On the weekly chart the big picture has hardly changed. In August the recovery from the 2026 low turned down near the red downtrend line from the record high, just above the 2025 high at $4,550.5. Six weeks of correction followed.

Last week also found support at the March low. Gold opened at $4,194.8, fell to $4,073.5, below the March low, rose to $4,217.2 and closed on Friday at $4,165.2, back above the level. The range of about $144 is almost the same as the week before (reversal week of 9 October: low $4,066.6, high $4,207.5, about $141). So the situation resembled the possible reversal scenario.

The current week has fallen below the support zone. Gold opened at $4,163.6, rose to $4,190.4 and fell to $3,986.9. On Friday at 08:01 the price stands at $4,018.8 and so below the March low. The weekly low is below the lows of the two previous weeks ($4,073.5 and $4,066.6) and above the 2026 low at $3,942.7. A reversal is not visible in the current week at the moment.

On the weekly chart the red downtrend line is still well above the price. It runs at about $4,340, so there is still some way to go. On the daily chart gold broke the same line on 9 October; the difference comes from the logarithmic scale of the weekly chart. A weekly close above it would be the next positive sign.

Two US dates are coming up in the next two weeks. They are reasons to read the chart again, not a forecast of a particular reaction. Times are Eastern Time, with central European time in brackets.

28 October, usually 2:00 p.m. ET (19:00 CET): Fed rate decision after the meeting of 27 and 28 October (FOMC calendar).

6 November, 8:30 a.m. ET (14:30 CET): US jobs report (non-farm payrolls) for October (BLS release schedule).

Gold is priced in dollars, so US rates and inflation matter. The Fed raised its target range to 3.75 to 4.00 percent on 16 September. The background is in our article on the Fed rate decision; the dollar side is covered in the EUR/USD forecast.

The 4,000 mark below and the resistance zone around $4,220 above decide. The price levels come from Karsten's charts; the closing conditions are an editorial guideline. They are reference levels, not order rules.

The monthly chart shows how gold briefly fell below the September low in October. The September low is at $4,110.9; October has reached $4,066.6 so far. Since then the price has been moving up again, which is positive in principle.

In the bigger picture the monthly chart looks like a sideways move with falling highs. The record high of $5,598.8 in January was followed by a lower high in March and an even lower one in August. For the longer term that looks somewhat negative at the moment. October opened at $4,159.9 and stands at $4,165.2. On the monthly chart the price holds the March low and so continues the sideways phase.

Gold and silver often move in the same direction over the long term, but not at the same pace. The levels for the second precious metal are in the silver price forecast. The other industrial and precious metals are covered in the platinum, palladium and copper forecasts.

The yearly chart still shows the long-term uptrend in gold. Each bar is one calendar year. Gold opened 2026 at $4,318.3, reached the record high at $5,598.8 and fell to $3,942.7. At $4,165.2 the price is below the year's open, so 2026 remains a possible reversal year.