Amid weak US economic indicators, gold (XAUUSD) may test the 3,700 USD mark. Find out more in our analysis for 12 September 2025.
XAUUSD forecast: key trading points
- Gold continues its rise to new highs after a correction
- Weak US economic data has once again weakened the USD
- XAUUSD forecast for 12 September 2025: 3,700
Fundamental analysis
The XAUUSD price forecast for today shows that after testing the 3,670 USD level, gold formed a correction and continues its upward momentum, currently trading around 3,655 USD per ounce.
An increase in jobless claims, weak hiring data, and falling labour activity in the US give markets reason to believe in a series of rate cuts. This reduces the appeal of the US dollar, pushing XAUUSD quotes higher.
The XAUUSD forecast for 12 September 2025 takes into account that US inflation indicators remain in focus, with weak PPI growth. The market is now awaiting the Consumer Price Index. If the CPI comes in above expectations, the USD may partially recover its positions, triggering another correction. Conversely, a lower-than-expected CPI could drive XAUUSD prices further up.
XAUUSD technical analysis
On the H4 chart, XAUUSD prices formed a Hanging Man reversal pattern near the upper Bollinger Band. At this stage, it is completing a corrective wave following the signal from the pattern. Considering that XAUUSD quotes remain within an ascending channel and given geopolitical factors, the uptrend will likely continue. The target for a correction may be the 3,640 USD mark.
At the same time, today’s technical analysis of XAUUSD also suggests an alternative scenario, where prices climb to 3,700 USD without testing the support level.
The potential for further upward movement remains, and in the near term XAUUSD quotes may head towards the next psychological mark at 3,800 USD.
Summary
Gold is balancing on the edge of an explosion. The 3,655 level is just a pause before the storm. A single CPI figure could send XAUUSD to 3,700 USD and higher or crash the quotes in an instant. The market is holding its breath – today decides everything.
Source: Roboforex