XAUUSD buyers are targeting the 4,860 USD level

XAUUSD quotes continue to strengthen amid rising geopolitical tensions in the Middle East, currently standing at 4,725 USD. Discover more in our analysis for 8 May 2026.

XAUUSD forecast: key takeaways

• XAUUSD quotes are rising for the fourth consecutive trading session
• Risks of accelerating inflation support the gold market
• Gold quotes remain below the highs recorded at the start of the conflict
• XAUUSD forecast for 8 May 2026: 4,895

Fundamental analysis

Gold (XAUUSD) quotes are rising for the fourth consecutive trading session. Buyers have confidently consolidated above the 4,645 USD resistance level, with the next upside target at 4,860 USD.

The precious metal received support from the escalation of the conflict between the US and Iran, which dampened expectations of a quick peaceful settlement and once again increased inflation risks. An additional factor of uncertainty remains the market’s expectation of Tehran’s response to the Trump administration’s proposal to reopen the Strait of Hormuz and de-escalate the conflict.

Despite the current strengthening, gold prices remain below the levels recorded at the start of the conflict. Earlier, reports of the effective closure of the Strait of Hormuz triggered a sharp jump in energy prices, which intensified fears of accelerating inflation and increased expectations of possible tightening in Fed monetary policy.

Overall, today’s XAUUSD forecast remains moderately positive while quotes hold above the broken resistance level of 4,645 USD.

Technical outlook

XAUUSD quotes are on the rise after breaking above the 4,645 USD resistance level. Buyers are holding prices above the EMA-65, indicating increased buying pressure. Today’s XAUUSD forecast suggests a rebound from the lower boundary of the bullish channel, followed by an upward move towards 4,895 USD.

The technical picture remains bullish. The Stochastic Oscillator rebounded from the upward support line and formed conditions for a bullish crossover, signalling a high probability of stronger upward momentum. Consolidation above 4,765 USD would further confirm the upside scenario.

An alternative scenario suggests a renewed decline if the lower boundary of the bullish channel is broken and prices consolidate below 4,630 USD. In this case, the likelihood of a deeper bearish correction will increase.

XAUUSD overview

• Asset: XAUUSD
• Timeframe: M30 (Intraday)
• Trend: upward
• Key resistance levels: 4,765 and 4,845
• Key support levels: 4,665 and 4,590

XAUUSD trading scenarios for today

Main scenario (Buy Stop)

A confident rebound from the 4,675 level would confirm continued bullish momentum and create conditions for opening long positions.

• Take Profit: 4,895
• Stop Loss: 4,630

Alternative scenario (Sell Stop)

Consolidation below 4,630 would indicate the end of growth and a downward correction.

• Take Profit: 4,375
• Stop Loss: 4,550

Risk factors

Risks to the XAUUSD upside scenario will increase in the event of easing geopolitical tensions and signals of a possible de-escalation in the US-Iran conflict, which may reduce demand for safe-haven assets. A breakout below the 4,630 USD support level would be an additional negative factor for gold, opening the way for a deeper bearish correction.

Summary

Today’s XAUUSD forecast suggests continued upward momentum and a high probability of further growth towards 4,895 USD, provided that quotes hold above the 4,645 USD level.

Open Account

Editors’ picks

EURUSD 2026-2027 forecast: key market trends and future predictions

This article provides the EURUSD forecast for 2026 and 2027 and highlights the main factors determining the direction of the pair’s movements. We will apply technical analysis, take into account the opinions of leading experts, large banks, and financial institutions, and study AI-based forecasts. This comprehensive insight into EURUSD predictions should help investors and traders make informed decisions.

Gold (XAUUSD) forecast 2026 and beyond: expert insights, price predictions, and analysis

Dive deep into the Gold (XAUUSD) price outlook for 2026 and beyond, combining technical analysis, expert forecasts, and key macroeconomic factors. It explains the drivers behind gold’s recent surge, explores potential scenarios including a move toward 4,500 to 5,000 USD per ounce, and highlights why the metal remains a strong hedge during global uncertainty.