Gold Price Prediction Turns Bullish After Channel Breakout

Gold (XAU) price prediction has turned bullish near $4,716 following a confirmed breakout from a descending channel, according to BeInCrypto. This move validates the prior target at $4,772 and shifts focus toward $4,850 ahead of Friday’s jobs data. Analyst Karcebe suggests that closings above $4,720 could fuel a push toward $4,850, with the daily and four-hour structures leaning higher. The breakout has converted prior resistance near $4,716 into support, with the main target aligning with the daily 0.382 Fibonacci level. Friday’s Non-Farm Payrolls release is flagged as a major catalyst for gold prices.