XAUUSD hits an all-time high: geopolitics and the Fed trigger a new gold rally

Gold (XAUUSD) quotes set another price record, testing the 4,630 USD level. At this stage, prices are forming a correction and hovering around 4,594 USD. Find more details in our analysis for 13 January 2026.

XAUUSD forecast: key takeaways

• US Consumer Price Index (CPI): previously at 2.7%, projected at 2.7%
• Current trend: moving upwards
• XAUUSD forecast for 13 January 2026: 4,685

Fundamental analysis

The XAUUSD forecast for today shows that gold prices maintain their upward momentum, reaching another all-time high and currently trading around 4,594 USD per ounce.

Factors influencing XAUUSD price dynamics:

• Geopolitical and political uncertainty. The market is reacting to the crisis surrounding the Federal Reserve chairman. Investigations and political pressure are raising concerns about the independence of the Fed, weakening the US dollar and driving demand for gold
• Current market expectations regarding future Fed interest rates are affecting prices: a more accommodative policy reduces real yields on US assets and pushes XAUUSD quotes higher
• In an environment of uncertainty and geopolitical risks, investors and central banks continue to view gold as a safe-haven asset, which supports sustained demand

Escalating international tensions and tariffs and duties imposed by the US on other countries continue to pressure the USD and contribute to increased demand for gold.

XAUUSD technical analysis

On the H4 chart, XAUUSD prices formed a Shooting Star reversal pattern near the upper Bollinger Band. At this stage, quotes may form a downward wave following the signal from the pattern. Since XAUUSD quotes remain within an ascending channel, the correction target may be the 4,545 USD support level.

At the same time, today’s XAUUSD technical analysis also suggests an alternative scenario, in which prices rise towards 4,685 USD without testing the support level.

The potential for continued upward momentum remains in place, and in the near term, XAUUSD prices may move towards the next psychological level at 4,800 USD.

Summary

The XAUUSD forecast for 13 January 2026 remains fully in favour of gold. Technical analysis suggests further price growth after the correction is complete.

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