Having set another price record, XAUUSD is forming a correction, after which quotes may rise further to 3,840 USD level. Find more details in our analysis for 24 September 2025.
XAUUSD forecast: key trading points
- Gold continues to set price records
- Investors expect further interest rate cuts from the Federal Reserve
- XAUUSD forecast for 24 September 2025: 3,840
Fundamental analysis
The XAUUSD price forecast for today shows that after testing the 3,791 USD level, gold rebounded and is now forming a correction, with quotes currently around 3,768 USD per ounce.
Despite retreating from record highs, amid uncertainty, gold (XAUUSD) continues to hold its ground on expectations of further Fed rate cuts.
Yesterday, in his speech, Federal Reserve Chairman Jerome Powell indicated a balanced stance, accounting for inflation risks on the one hand and labour market weakness on the other.
The XAUUSD forecast for 24 September 2025 reflects that Powell’s remarks boosted hopes and confidence in further interest rate cuts in October and December 2025. In turn, pending the decision, the USD may continue to lose ground not only against gold but also against other currencies.
XAUUSD technical analysis
On the H4 chart, XAUUSD prices formed a Hanging Man reversal pattern near the upper Bollinger Band. At this stage, they continue a corrective wave following the pattern’s signal. Given that XAUUSD quotes remain within the ascending channel and considering geopolitical factors, the uptrend will likely continue once the pullback is complete. At the moment, the target for correction may be the 3,735 USD level.
At the same time, today’s XAUUSD technical analysis suggests a second possible scenario, with prices rising to the 3,840 USD level without testing the support level.
The possibility of a continued uptrend remains, with XAUUSD quotes potentially heading towards the next psychological milestone at 4,000 USD in the near term.
Summary
The USD continues to lose ground following Powell’s speech. Technical analysis suggests a correction before the uptrend continues, with the upside target at 3,840 USD.
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