Gold (XAUUSD) is trading near an all-time high

Gold quotes are close to the all-time high of 2,790 USD, with prices moving towards the target of the Triangle pattern on the daily chart. Discover more in our XAUUSD analysis for today, 27 January 2025.

XAUUSD forecast: key trading points

• The US Federal Reserve will hold its regular meeting this week
• Current trend: a strong uptrend
• XAUUSD forecast for 27 January 2025: 2,750 and 2,790

Fundamental analysis

XAUUSD prices are rising steadily, having returned to the area near the all-time high of 2,790 USD after the recent downward correction. Gold prices are now supported by investor concerns over the ambiguous economic policies of US President Donald Trump.

Following the meeting, this Wednesday, the Federal Reserve will announce its interest rate decision. Most experts expect the regulator to pause and keep the rate unchanged at 4.5%. According to the CME FedWatch Tool, the likelihood of a rate cut at the meeting is only 0.5%.

XAUUSD quotes can be impacted by the rhetoric of the Federal Reserve’s accompanying statement, which may shed light on future monetary policy changes.

XAUUSD technical analysis

The XAUUSD pair is in a strong uptrend on the daily chart. The Alligator indicator lies below the price chart and is moving upwards, confirming a bullish trend. A Triangle pattern previously formed, and XAUUSD prices subsequently broke above its upper boundary. The target for this pattern is 2,900 USD.

The short-term XAUUSD forecast suggests the pair may continue its ascent and test the all-time high of 2,790 USD if bulls retain the initiative. However, a downward correction is possible if bears gain control and establish the price below the 2,725-2,735 USD support area.

Summary

XAUUSD prices are rising steadily, having returned to the area near the all-time high of 2,790 USD. The previously formed Triangle pattern suggests further growth towards the 2,900 USD level.