XAUUSD is undergoing a downward correction, with prices falling to 3,000 USD on Friday. The ongoing peace talks over the conflict in Ukraine are contributing to Gold’s decline. Discover more in our XAUUSD analysis for today, 24 March 2025.
XAUUSD forecast: key trading points
- Market focus: another round of negotiations has begun to resolve the military conflict in Ukraine
- Current trend: correcting within the uptrend
- XAUUSD forecast for 24 March 2025: 3,000 and 3,057
Fundamental analysis
Gold continued its downward correction on Monday amid rising hopes for a peace agreement between Russia and Ukraine following Sunday talks between Ukrainian and US officials aimed at ending the military conflict.
Separate discussions between US and Russian delegates are also expected later today. Nevertheless, Gold remains highly attractive as a safe-haven asset due to tariff uncertainty and expectations of further rate cuts by the US Federal Reserve.
XAUUSD technical analysis
XAUUSD quotes went into a downward correction after reaching a new all-time high of 3,057 USD. Prices are currently trading around 3,020 USD, with the key support level seen at the psychologically important 3,000 USD mark.
The short-term XAUUSD price forecast suggests that the pair could return to the high of 3,057 USD if the bulls regain control and push prices higher. Conversely, the downward correction could continue if the bears succeed in driving prices below the 3,000 USD support level.
Summary
Gold (XAUUSD) is declining, with prices reaching the 3,000 USD level on Friday. A downward correction is currently in progress, and once it is complete, the precious metal may resume its upward movement.
Source: Roboforex
