Technical Analysis: XAUUSD

XAUUSD reached a record high again

On Monday, XAUUSD increased by about 2% and broke above the US$4600 mark, reaching a record high again.

US prosecutors launched criminal investigation into the Fed Governor Powell

The US Attorney’s Office for the District of Columbia launched criminal investigation into the Fed Governor Powell on the 11^th January 2026. It issued subpoenas involving the renovation of Federal Reserve Office buildings and whether Powell has told a lie to the US Congress on the program.

Gold ETF holdings increased

As of 12^th January 2026, gold holdings reached 1070.80 tons, an increase of 6.24 tons from the previous trading day, according to the data from the world’s largest Gold ETF——SPDR Gold Trust.

The bullish market trend prevailed

the Chart of the Day

On the chart of the day, XAUUSD was prone to fluctuation and climbed. The bullish market trend prevailed. In terms of technical indicators, KDJ went upwards after golden cross occurred, showing that XAUUSD will rise further. Investors should focus on whether XAUUSD will break through the resistance at 4630. It will jump with potential resistance at 4700 if it breaks above 4630.

4-hour chart

On the 4-hour chart, XAUUSD was prone to fluctuation and climbed. The bullish market trend prevailed. In terms of technical indicators, MACD went upwards after golden cross occurred, showing that XAUUSD will rise further. Investors should focus on whether XAUUSD will break through the support at 4550. It will rise if it retreats but is stable above 4550.

Key resistance: 4630,4700

Key support: 4550,4500

Generally speaking, the bullish market trend prevailed in the short term. Investors could buy as XAUUSD retreats during the day.