An upward move in Gold (XAUUSD) from March 3 to 7, 2025, is supported by a rebound from the RSI trend line and the lower boundary of the bullish channel. Bulls are eyeing resistance at $2,935, which, if broken, could confirm further growth.
A short-term correction towards $2,835 is possible before the price resumes its uptrend with a target above $3,075. Increased demand for gold as a safe-haven asset and technical indicators suggest buyers remain in control.
However, a drop below $2,735 could invalidate this bullish outlook, signaling a deeper decline toward $2,665. A break of this level would shift momentum in favor of the bears, leading to extended losses.
Market participants should monitor price action around key support and resistance levels, as volatility remains high.