Gold Price Forecast: XAU/USD Bulls Will Find Resistance At The $4,850 Area

• Gold appreciates for the second consecutive day, reaching levels close to $4,800.

• Hopes of a new round of negotiations between the US and Iran are weighing on the safe-haven USD.

• XAU/USD's recovery from 2026 lows near $4,100 has stalled below the $4,850 area.

Gold (XAU/USD) is showing a moderate bullish tone for the second consecutive day on Tuesday, with price action approaching the $4,800 level after bouncing from one-week lows at $4,664 on Monday. Speculation about a new round of negotiations between the US and Iran is allowing a moderate risk aversion, which is buoying precious metals against the safe-haven US Dollar.
News reports hint at ongoing contacts between the US and Iran. Reuters affirmed earlier on Tuesday that delegations from both countries might be ready to resume peace negotiations in Pakistan this week, while US President Donald Trump assured on Monday that Iran had called asking to “work for a deal”. On Tuesday, US Vice President JD Vance said that it is up to Tehran to “take the next step·” in peace negotiations.

Technical Analysis: Looking for direction between $4,620 and $4,850

From a wider perspective, XAU/USD continues trading within a horizontal range with resistance at the $4,850 area holding bulls, with downside attempts limited by the 38.6% Fiboonacci retrecement of the March sell-off, around $4,620

Relative Strength Index (RSI) in the 4-hour chart has popped up above the 50 midline, but remains capped below 60. The Moving Average Convergence Divergence (MACD) keeps hovering around the zero line, showing a lack of clear momentum.

Bulls should break the mentioned $4,850 resistance area (April 8 high) to resume the near-term bullish trend towards the 61.8 Fibonacci level, at $4,932, and a previous support-turned-resistance right above $5,000.

On the downside, a slide back through the $4,620 area would negate the bullish structure and expose March 26 lows at the $4,350 area.

(The technical analysis of this story was written with the help of an AI tool.)