Gold (XAUUSD) breaks records: prices are at peak, what is next?

Gold has set another price record ahead of FOMC member John C. Williams’s speech and is forming a correction, with a potential target at the 3,010 USD support level. Discover more in our XAUUSD analysis for today, 21 March 2025.

XAUUSD forecast: key trading points

• A speech by FOMC member John C. Williams
• Current trend: moving upwards
• XAUUSD forecast for 21 March 2025: 3,010 and 3,056

Fundamental analysis

Fundamental XAUUSD analysis for today, 21 March 2025, shows that Gold prices have hit a record high, surpassing 3,050 USD. This growth is driven by increased demand for safe-haven assets amid geopolitical tensions and economic uncertainty.

Goldman Sachs analysts have revised their forecast, expecting XAUUSD prices to reach 3,100 USD by the end of the year due to active purchases by global central banks and investors’ intention to protect their capital. Against this backdrop, Gold continues to strengthen its position as a reliable asset amid global uncertainty.

XAUUSD growth is driven by the US Federal Reserve’s signals about two possible rate cuts in 2025. Analysts note that interest rate cuts make Gold more attractive as a safe-haven asset. Additionally, a weaker US dollar and inflation expectations push precious metal prices higher.

The XAUUSD price forecast for today, 21 March 2025, takes into account that Federal Reserve Bank of New York President and FOMC member John C. Williams will deliver a speech today at the beginning of the US trading session. His speech may shed light on the Fed’s further monetary policy actions, especially after the recent announcement of a planned 0.75-point reduction in interest rates this year.

XAUUSD technical analysis

On the H4 chart, XAUUSD prices formed a Shooting Star reversal pattern near the upper Bollinger band. At this stage, they are forming a corrective wave following the signal from the pattern. The uptrend will likely continue after the correction as XAUUSD quotes remain within the ascending channel. At this stage, the target for a pullback could be the 3,010 USD support level.

However, the XAUUSD technical analysis for today also suggests another scenario, where the price rises to 3,056 USD without testing the support level.

After testing the resistance level, XAUUSD prices could reach a new all-time high in the short term and head towards 3,100 USD.

Summary

Gold (XAUUSD) hit a new all-time high, surpassing 3,050 USD per troy ounce, primarily driven by geopolitical tensions, the weakening of the US dollar, and expectations of a Federal Reserve interest rate cut. The XAUUSD technical analysis suggests a correction towards the 3,010 USD support level, after which the uptrend may continue.