XAU/USD spot prices continue moving within the framework of an upward development and bull channel. At the time of writing, the Gold price for today stands at $3358 per Troy ounce. Moving averages indicate a short-term bullish trend. Prices have broken through the area between signal lines upwards, which indicates pressure from buyers of the asset and potential continuation of growth already from current levels. Currently, it is worth anticipating the development of a bearish correction in the Gold course and testing the support level near the area of 3345. From where one should anticipate a rebound upwards and continuation of the rise in the Gold price with a potential target above the level of 3465.
GOLD Forecast and XAU/USD Analysis for June 3, 2025
Additional indication for the decrease in the price of XAU/USD would be testing the support line on the Relative Strength Index (RSI) indicator. The second signal will be a bounce off the upper boundary of the bear channel. Confirmation that the Gold prices won’t rise again until June 3, 2025 will be when the price drops and breaks through the level of 3305. This would indicate that the support area has been breached, and the price action is likely to continue downwards to an area below the level of 3265. An acceleration towards growth in XAU/USD prices should be expected with a break above the resistance zone and closing price above the level of 3390.
GOLD Forecast and XAU/USD Analysis for June 3, 2025 anticipates an attempt at developing a bearish price correction and testing the support area near 3345. Following this, continuation of the rise in metal prices towards levels above 3465. The option for increased gold prices will be invalidated by a drop in asset value on markets and a breakthrough the level 3305. This would indicate continued price decline for Gold with potential target below 3265.
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