XAU/USD quotes continue to move within a declining channel. At the time of this forecast’s publication, the gold price today is $4,046 per troy ounce. Moving averages indicate a short-term bearish trend. Prices have broken below the area between the signal lines, indicating downward pressure from asset sellers and a potential continuation of the decline from current levels. Currently, we should expect an attempt at a bullish correction in gold prices and a test of the resistance level near 4,155. From there, we should expect a downward rebound and a continued decline in gold prices, with a potential target below 3,665.
GOLD Forecast and XAU/USD Analysis for July 1, 2026
An additional signal favoring a decline in XAU/USD quotes will be a test of the bearish trendline on the relative strength indicator (RSI). A second signal will be a rebound from the upper boundary of the descending channel. A strong rally and a breakout of 4305 would cancel the gold price decline scenario on July 1, 2026. This would indicate a breakout of the resistance area and continued price growth above 4565. Expect the XAU/USD price decline to accelerate with a breakout of the support area and a price close below 3940.
GOLD Forecast and XAUUSD Analysis for July 1, 2026 suggests an attempt to develop a bullish price correction and test the resistance area near 4155. Subsequently, a continued decline in base metal prices with a target below 3665. A strong rally in the market and a breakout of 4305 would cancel the gold price decline scenario. This would indicate continued price growth with a potential target above 4565.
