Quotes XAU/USD continue to move within the development of a bearish correction and a bullish channel. At the time of publication of the forecast, the price of Gold today is 3322 Dollars per Troy Ounce. The moving averages indicate the presence of a short-term uptrend. Prices broke through the area between the signal lines downward, which indicates pressure from the buyers of the asset and potential continuation of growth from the current levels. At the moment we should expect an attempt to develop a bearish correction of the gold rate and a test of the support level near the 3295 area. From where we should expect a rebound upwards and continuation of the Gold price rise with a potential target above the level of 3425.
GOLD Forecast and XAU/USD Analysis for June 11, 2025
An additional signal in favor of XAU/USD quotes decline 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. Cancellation of the variant of growth of prices for Gold on June 11, 2025 will be the fall of quotations and breakdown of the level 3255. This will indicate the breakdown of the support area and the continuation of the fall of quotes of the asset to area below the level of 3205. We should expect XAU/USD quotes growth acceleration with the breakdown of the resistance area and the price closing above the level of 3355, which will indicate the breakdown of the upper boundary of the bearish correction channel.
GOLD Forecast and XAU/USD Analysis for June 11, 2025 suggests an attempt to develop a bearish correction of the price and a test of the support area near the level of 3295. Further, the continuation of growth of base metal quotations with a target above the level of 3425. The option of Gold price growth will be canceled by the fall of the asset’s value on the markets and the breakdown of the 3255 level. This will indicate the continuation of Gold price decline with a potential target below 3205.
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