XAUUSD prices are rising amid mounting trade tensions, with the asset price currently at 2,917 USD. Discover more in our analysis for 13 February 2025.
XAUUSD forecast: key trading points
- Investors remain interested in Gold as a safe-haven asset amid trade tensions
- US inflation accelerates for the fourth consecutive month
- Rising inflation increases the likelihood of the Federal Reserve keeping the interest rate unchanged, making Gold less attractive as a safe-haven asset
- XAUUSD forecast for 13 February 2025: 2,940 and 2,976
Fundamental analysis
XAUUSD quotes resumed growth after a correction caused by the release of data on steady US inflation. All key indicators exceeded forecasts, increasing the likelihood of the Federal Reserve keeping the interest rate unchanged at the March meeting. This makes Gold less attractive while supporting the US dollar.
US consumer prices rose by 3.0% year-on-year in January, marking the highest level since June 2024. The inflation rate has been accelerating for the fourth consecutive month, exceeding 2.9% in December and analysts’ forecast that expected the indicator to remain at 2.9%.
The core CPI, excluding food and energy, added 0.4% in January compared to December, coming in at 3.3% year-on-year. Both indicators were above experts’ expectations of 0.3% и 3.1%, respectively.
Despite the US inflation data, investors remain interested in safe-haven assets amid growing trade tensions and economic uncertainty, supporting the current growth in Gold as part of the XAUUSD forecast for 13 February 2025.
XAUUSD technical analysis
Gold (XAUUSD) continues to move within the ascending channel. Prices are holding above the EMA-65 after the sellers failed again to break through this line, which confirms the increasing bullish sentiment. The recent corrective decline, with prices testing the 2,863 USD level, was driven by the release of US inflation data. Probably, the market has already finished reacting to this factor.
The nearest support level is 2,890 USD, where the lower boundary of the ascending channel lies. Buyers have already been active in this area, which earlier caused a rapid rise in prices. The key resistance level remains at 2,940 USD. After testing this level, prices tumbled by over 2.67%.
The Stochastic Oscillator remains in the overbought area, increasing the odds of a corrective decline. However, given the strong uptrend, the correction will likely be short-lived. To confirm a new bearish momentum, it is important to wait for the Oscillator readings to decline below 80 and for the %K and %D lines to cross from bottom to top.
The XAUUSD price forecast for today suggests a rebound from the 2,900 USD level and growth to 2,976 USD. The bullish scenario will be confirmed if prices firmly consolidate above 2,940 USD. An alternative scenario is possible if prices break below the lower boundary of the long-term ascending channel and consolidate below 2,875 USD, adding to selling pressure and opening the way for a movement towards 2,830 USD.
Source: Roboforex
