Image Source: Pixabay
 

Hello traders! We talked about a correction on gold with our members already back in May, when we spotted a strong support within a three-wave corrective decline within higher degree wave 4, which can resume the bullish trend for wave 5.
 

XAUUSD(gold) Daily Chart From May 21
 

It appears that big bull run is still here and that current pause is just temporary, but a bit longer than initially thought. Due to a sideways consolidation for the last two months, it’s probably trapped in a bullish triangle pattern in wave 4 before we will see a resumption higher within 5th wave.
 

XAUUSD Daily Chart

Gold(XAU) moved very nicely to the upside a few weeks back after only three waves of decline into 3121, which was a contra-trend move, ideally part of wave four, meaning that the fifth wave should sooner or later reach new all-time highs. However, note that price recently turned lower towards 3244 which can be longing wave (C) of that triangle, which is still far away from being completed then. In fact, rise from the start of July is in three waves and can cause new turn down in days ahead, to the lower side of a range.
 

XAUUSD 4H Chart
 

For a detailed view and more analysis like this, you may want to watch below our latest recording of a live webinar streamed on July 14 2025: Direct Link

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