XAU/USD quotes continue to move within the correction and bullish channel. At the time of publication of the forecast, the price of gold for today is 3382 dollars 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 should expect an attempt at a bearish correction in the gold price and a test of the support level near the 3345 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 3525 level.
GOLD Forecast and XAU/USD Analysis for June 24, 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 indicator). The second signal will be a rebound from the lower border of the bullish channel. A decline in quotes and a breakout of the 3305 level will cancel the option of growth in gold prices on June 24, 2025. This will indicate a breakout of the support area and a continuation of the decline in asset quotes to an area below the 3235 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 3395 level, which will indicate a breakout of the upper border of the downward correction channel.
GOLD Forecast and XAU/USD Analysis for June 24, 2025 suggests an attempt to develop a bearish price correction and test the support area near the 3345 level. Further, the growth of non-ferrous metal quotes will continue with a target above the 3525 level. A fall in the asset’s value on the markets and a breakout of the 3305 level will cancel the option of growth in gold prices. This will indicate a continuation of the decline in the price of gold with a potential target below the 3235 mark.
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