XAU/USD quotes continue to move within the correction and downward channel. At the time of publication of the forecast, the price of gold for today is $3,275 per troy ounce. Moving averages indicate a short-term upward trend. Prices are again testing the area between the signal lines, which indicates pressure from buyers of the asset and a potential continuation of growth from current levels. At the moment, we should expect an attempt to develop a bullish correction in the gold price and a test of the resistance level near the 3305 area. From there, we can expect a downward rebound and a continuation of the decline in the price of gold with a potential target below the 3205 level.
GOLD Forecast and XAU/USD Analysis for July 1, 2025
An additional signal in favor of a decline in XAU/USD quotes will be a test of the resistance line on the relative strength indicator (RSI). The second signal will be a rebound from the upper border of the bearish channel. A strong rise in quotes and a breakout of the 3345 level will cancel the option of a fall in gold prices on July 1, 2025. This will indicate a breakout of the resistance area and a continuation of the asset’s quotes growth to the area above the 3405 level. An acceleration in the decline in XAU/USD quotes should be expected with a breakout of the support area and the price closing below the 3255 level.
GOLD Forecast and XAU/USD Analysis for July 1, 2025 suggests an attempt to develop a bearish price correction and test the support area near the 3305 level. Further, the growth of non-ferrous metal quotes will continue with a target above the 3205 level. The cancellation of the gold price growth scenario will be a fall in the asset’s value on the markets and a breakout of the 3345 level. This will indicate a continuation of the decline in the price of gold with a potential target below the 3405 mark.
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