Gold prices rocketed to a fresh record high this week, but the advance quickly fizzled with XAU/USD closing more than 3% off the highs. While the broader outlook remains constructive, building divergence into technical resistance once again highlights the threat of corrective price action within the uptrend. These are the updated targets and invalidation levels that matter on the XAU/USD weekly technical chart. {chart} Technical Outlook: In last month’s Gold Weekly Price Forecast we note that XAU/USD was trading just below the yearly high-week close and that, “A topside breach / weekly close above 2004 is needed to ... (full story)