XAU/USD quotes continue to move as part of a downward trend and the formation of a Head and Shoulders reversal pattern. At the time of this forecast, the price of gold today is $4,441 per troy ounce. Moving averages indicate a short-term bearish trend. Prices have broken below the signal lines, indicating downward pressure from sellers and potential further decline from current levels. Currently, we expect an attempt to further weaken the gold price and a test of support near 4,425. From there, we expect an upward rebound and continued growth in gold prices, with a potential target above 4,795.
GOLD Forecast and XAU/USD Analysis for June 4, 2026
An additional signal favoring an uptrend in XAU/USD quotes will be a test of the bullish trendline on the relative strength indicator (RSI). The second signal will be a rebound from the lower boundary of the Head and Shoulders reversal pattern. A decline in gold prices and a breakout of 4385 will cancel out the upward trend on June 4, 2026. This will indicate a breakout of the support area and a continued decline in the asset’s price below 4215. Expect an acceleration in XAU/USD price growth with a breakout of the key resistance area and a price close above 4605, which will signal a breakout of the upper boundary of the Head and Shoulders reversal pattern and the beginning of the pattern’s implementation with targets above.
GOLD Forecast and XAU/USD Analysis for June 4, 2026 suggests an attempt to develop a bearish price correction and test the support area near 4425. Subsequently, base metal prices are expected to continue rising with a target above 4795. A decline in the asset’s market value and a breakout of 4385 would cancel out the upward trend in gold prices. This would indicate a continued decline in gold prices with a potential target below 4215.
