Elliott Wave Analysis: Gold (XAUUSD) Poised to Break Consolidation, Eyeing New Highs
The short-term Elliott Wave outlook for Gold (XAUUSD) indicates a sustained upward impulse from the July 31, 2025 low. The rally began with wave 1 peaking at 3409.4, followed by a wave 2 pullback concluding at 3311.26. This wave 2 correction formed a double three Elliott Wave pattern. Specifically, wave ((w)) declined to 3340.81, wave ((x)) rebounded to 3374.79, and wave ((y)) finalized at 3310.98, completing the higher-degree wave 2.
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