Record after record: XAUUSD remains the main beneficiary of the year-end

Gold continues to strengthen against the USD, with XAUUSD quotes testing the 4,550 USD level. Details — in our analysis for 29 December 2025.

XAUUSD forecast: key takeaways

• Gold has set another price record
• USD continues to lose ground
• Current trend: moving upwards
• XAUUSD forecast for 29 December 2025: 4,600

Fundamental analysis

The XAUUSD price forecast for today shows that gold continues its upward trend, with quotes updating another all-time high and currently trading around 4,515 USD per ounce.

Factors influencing XAUUSD price dynamics:

• XAUUSD continues to trade near record highs following the December rally. The market is entering a consolidation phase at elevated levels as participants take profits while maintaining defensive positions ahead of the close of 2025
• The backdrop for gold remains positive: investors are reallocating portfolios, reducing exposure to USD risks and increasing allocations to precious metals. Amid uncertainty heading into 2026, gold retains its status as a key hedging instrument
• The USD remains under pressure due to expectations of further monetary policy easing by the Federal Reserve in 2026, as well as weak US macroeconomic data. This continues to support gold prices, making the metal more attractive to investors
• During the holiday period, the number of active market participants declines, increasing the likelihood of sharp intraday XAUUSD moves even in the absence of major news

The XAUUSD forecast for December 29, 2025, remains fully supportive of gold. The metal continues to hold strong positions amid a weak USD, while markets await new drivers at the start of 2026.

XAUUSD technical analysis

On the H4 chart, XAUUSD has formed a Shooting Star reversal pattern near the upper Bollinger Band. At this stage, the price may develop a corrective downward wave as the pattern signal plays out. Given that XAUUSD remains within an ascending channel, the corrective target may be the support level at 4,465 USD.

At the same time, XAUUSD technical analysis for today also considers an alternative scenario, where prices extend the rally toward 4,600 USD without testing support.

The potential for continuation of the broader uptrend remains intact, and in the near term, XAUUSD prices may move toward the next psychological level at 4,800 USD.

Summary

Gold, having set another price record, is now awaiting new growth triggers. XAUUSD technical analysis suggests a correction toward the 4,465 USD support level before the continuation of the broader upward trend.

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