Gold (XAUUSD) continues to strengthen after a correction

Active Gold purchases by central banks support Gold, potentially driving the quotes further up to the 2,940 USD level. Find more details in our XAUUSD analysis for today, 11 March 2025.

XAUUSD forecast: key trading points

• US JOLTS job openings: previously at 7.600 million, projected at 7.650 million
• Current trend: moving upwards
• XAUUSD forecast for 11 March 2025: 2,882 and 2,940

Fundamental analysis

The XAUUSD analysis for today, 11 March 2025, is rather optimistic, with quotes rising after the correction, approaching 2,900 USD per troy ounce. This could be due to geopolitical instability and active precious metal purchases by global central banks.

The XAUUSD price forecast for 2025 suggests that prices could range between 2,600 USD and 2,900 USD, given expectations of US interest rate cuts and continued demand from the world’s major central banks.

US JOLTS job openings data could show a rise to 7.650 million on 11 March 2025. Such an increase could push XAUUSD quotes higher.

XAUUSD technical analysis

On the H4 chart, XAUUSD prices formed a Hammer reversal pattern near the lower Bollinger band. At this stage, they continue their upward trajectory following the signal from the pattern. The uptrend will likely continue as XAUUSD quotes are moving within the ascending channel. The upside target could be the 2,940 USD resistance level.

However, the XAUUSD technical analysis for today also suggests another scenario, where prices correct towards 2,882 USD before continuing their upward trajectory.

After testing the resistance level, XAUUSD prices could reach a new all-time high in the near term and head towards 3,000 USD.

Summary

Along with the XAUUSD technical analysis, the decline in US economic indicators suggests a continuation of the uptrend, with the quotes potentially rising to 2,940 USD.