XAU/USD is currently trading at $3,385.91 and has been consolidating in a tight ascending triangle pattern on the weekly chart for the past four months. This structure has formed after a strong impulse move earlier in the year and is now coiling beneath a significant resistance zone at $3,386 to $3,400. Each weekly rejection from this level has added strength to the ceiling, while the consistent formation of higher lows suggests institutional accumulation. Volume has been declining steadily during this period, a classic sign of compression and imminent breakout potential. Fibonacci extensions from the April impulse leg point toward upside targets of $3,463 (1.618), $3,586 (2.0), and $3,708 (2.618). A weekly close above $3,400 with strong volume would confirm the breakout and likely trigger a momentum-driven move toward these levels. Invalidation would occur with a weekly close below $3,330 or a clear break of trendline support. In the current macroeconomic climate—defined by central bank uncertainty, inflationary pressures, and geopolitical tension—gold remains a key hedge. This 4-month consolidation reflects not weakness, but pressure building beneath the surface. As with all sustained triangles, the longer the base, the stronger the breakout. A move from this structure could define the next major phase for gold heading into Q4 2025.
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.