XAUUSD Analysis and Prediction Today, February 2, 2026: Bulls Set Up New Base?

Jakarta, Pintu News – In today’s trading, XAUUSD (gold versus US dollar) showed a correction phase after hitting record highs above USD 5 600 per ounce last week. This correction is part of the broader market dynamics, influenced by profit-taking after a strong rally as well as a reaction to the strengthening US dollar and macro sentiment. Nevertheless, the direction of the medium-term trend remains the main focus of analysts to determine the potential for further movement in this market.

Correction Trend After Record Highs

After reaching a peak around USD 5 602, gold experienced a natural selling pressure that pushed the price down. This kind of correction often occurs when an asset experiences an extreme spike in a short period of time, as a number of market participants take profits or reposition.

The key technical support zone is currently in the range of USD 4 744 to USD 4 428, which is the 50%-61.8% retracement area of the previous moving range. Analysts see this area as an important level where bulls can establish a strong base before further rally attempts. A drop below this support could potentially open room for a deeper correction, while a rebound from this area could signal a continued recovery.

Also Read: 7 Ethereum (ETH) 2026 Price Predictions: Bullish Targets, Risks & Projections

Key Support and Resistance for Today

Intraday, the technical levels show some support and resistance points that are worth keeping an eye on. Recent analysis forecasts that if the price can sustain above the USD 5 208-USD 5 153 zone, bullish momentum could re-establish. However, if the price drops below USD 5 052-USD 4 996, bearish pressure could reinforce the continued correction.

Initial resistance lies around USD 5 266-USD 5 320, which serves as an initial barrier to further gains. A breakout above this level could open a path towards the medium-term target above USD 5 400.

Technical Indicators Show Mixed Outlook

Several technical indicators are showing neutral to slightly bearish signals in the short term, reflecting the still high volatility after the strong rally. For instance, the RSI and VWAP indicators are showing selling pressure, while strong support levels remain key areas for potential price consolidation.

In daily analysis, traders usually combine these technical levels with macro data such as economic reports, interest rate policies, and US dollar dynamics to devise a more complete trading strategy.

Fundamental Factors that Still Favor Gold

Despite the correction, several fundamental factors remain supportive of gold prices in the medium to long term. Global geopolitical tensions, as well as safe haven demand from central banks and retail investors, are still bullish drivers. Major banks such as UBS and Deutsche Bank have even raised their annual gold price projections, indicating potential upward pressure ahead.

Demand for gold as a hedge asset also continues to rise amid global market uncertainty, which often drives investors to seek instruments that are less correlated with stock and bond markets.

Potential Strategy of the Day

Short-term traders may consider a buy on dip strategy around technical support zones if volume is restrained and prices show signs of a bounce. Conversely, if the price breaks below the main support, a bearish strategy with a target for the next drop could be an alternative. A combination of using technical levels and risk management is key to dealing with gold’s volatility today.

Also Read: 7 Gold Price Predictions for February 2026: Rise, Scenarios & Risk Factors!

Follow us on Google News to stay up to date with the latest crypto and blockchain technology. Check Bitcoin price, USDT to IDR and Nvidia stock price tokenized via Pintu Market.

Enjoy an easy and secure crypto trading experience by downloading the Pintu crypto app via Play Store or App Store now. Also, experience web trading with advanced trading tools such as pro charting, various order types, and portfolio tracker only at Pintu Pro.

*Disclaimer

This content aims to enrich readers’ information. Pintu collects this information from various relevant sources and is not influenced by outside parties. Note that an asset’s past performance does not determine its projected future performance. Crypto trading activities are subject to high risk and volatility, always do your own research and use cold hard cash before investing. All activities of buying and selling Bitcoin and other crypto asset investments are the responsibility of the reader.

Reference

• FXEmpire. Gold (XAUUSD) Price Forecast: Corrects After $5602-Can Bulls Build Base at $4744-$4428? Accessed February 2, 2026.