XAU/USD quotes continue to move within the growth and bullish channel. At the time of publication, the price of gold for today is $3,415 per troy ounce. Moving averages indicate a short-term upward trend. Prices have broken through the area between the signal lines upwards, indicating pressure from buyers of the asset and a potential continuation of growth from current levels. Now, we can expect an attempt at a bearish correction of the gold price and a test of the support level near the 3365 area. From there, we can expect an upward rebound and a continuation of the rise in the price of gold with a potential target above the 3575 level.
GOLD Forecast and XAU/USD Analysis for June 17, 2025
An additional signal in favor of a decline in XAU/USD quotes will be a test of the support line on the relative strength indicator (RSI). The second signal will be a rebound from the lower border of the bullish channel. A decline in quotes and a breakout of the 3325 level will cancel the option of growth in gold prices on June 17, 2025. This will indicate a breakout of the support area and a continuation of the decline in asset quotes to an area below the 3265 level. An acceleration in the growth of XAU/USD quotes should be expected with a breakout of the resistance area and the price closing above the 3445 level.
GOLD Forecast and XAU/USD Analysis for June 17, 2025 suggests an attempt to develop a bearish price correction and test the support area near the 3365 level. Further, the growth of non-ferrous metal quotes will continue with a target above the level of 3575. The cancellation of the option for growth in gold prices will be a fall in the value of the asset on the markets and a breakout of the level of 3325. This will indicate a continuation of the decline in the price of gold with a potential target below the mark of 3265.
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