The price of gold could extend its growth after taking out the 1,868.62 resistance. XAU/USD could come back to test and retest the broken upside obstacle before jumping higher. Gold was somehow expected to approach and reach fresh new highs after escaping from the triangle pattern. In our gold forecast the price of the XAU/USD pair climbed as much as 1,875.02 level today, registering a new high. The yellow metal is strongly bullish even if the Dollar Index reached a fresh new high of 95.62 level earlier. Still, in the short term, we cannot exclude a DXY temporary decline after its strong rally. If you are looking to trade gold on an MT5 broker, then read our guide before you start. XAU/USD was somehow expected to resume its growth after escaping from a continuation pattern. The price action showed strong buyers lately, so Gold could extend its upside journey despite minor and temporary declines. Get FREE Forex Signals Now! Though, you should be careful later today as the United States is to release its retail sales data which are seen as high-impact events. The Retail Sales indicator is expected to register a 1.3% growth in the last month versus a 0.7% growth in September. In addition, the Core Retail Sales could register a 1.0% growth in October versus 0.8% in the previous reporting period. Most likely, the fundamentals could really shake the markets and could bring sharp movements in Gold as well. Industrial Production could report a 0.9% growth compared to 1.3% drop in the previous reporting period, while the Capacity Utilization Rate could be reported higher at 75.9% versus 75.2 %.  Gold Forecast: Price Technical Analysis – Continuation Pattern  XAU/USD has finally managed to jump above the 1,868.62 static resistance. After escaping from the minot triangle pattern, it was somehow expected to resume its growth. Staying near this upside obstacle, it has signalled an imminent upside breakout. Also, after failing to come back to test and retest 1,841.57 or the 1,834.19 support levels, XAU/USD showed strong upside pressure. In the short term, we cannot exclude a temporary decline. The price of gold could come back to test and retest the 1,868.62 broken obstacle before resuming its upside movement. Making a new higher high signalled strong buyers. The next upside target is seen at the weekly R1 (1,884.96) level. Looking to trade forex now? Invest at eToro! Trade Forex Now! 68% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money. Olimpiu Tuns Olimpiu Tuns Olimpiu Tuns graduated with a Master in Business Administration and is a seasoned Market Analyst / Trader / Trainer with 10 years of experience in the financial markets having expertise in Forex, Commodities, Index, Cryptocurrencies, and Stocks. He worked as a Market Analyst for three major brokerage companies, as a prop trader, and as a contributor/content creator for news portals and educational platforms. View All Post By Olimpiu Tuns Daily Look share Read Next Gold Price Analysis: Firm USD to Exacerbate Selling to $1,830 Saqib Iqbal 6 months The price of gold could extend its growth after taking out the 1,868.62 resistance. XAU/USD could come back to test and retest the broken upside obstacle before jumping higher. Gold was somehow expected to approach and reach fresh new highs after escaping from the triangle pattern. In our gold forecast the price of the XAU/USD pair climbed as much as 1,875.02 level today, registering a new high. The yellow metal is strongly bullish even if the Dollar Index reached a fresh new high of 95.62 level earlier. Still, in the short term, we cannot exclude a DXY temporary decline after… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.