XAUUSD quotes continue within the context of a correction development and bearish channel movement. At the time of this forecast publication, the price of GOLD is $3,350 per Troy ounce. Moving averages indicate a short-term uptrend. Prices are once again testing the area between signal lines, which indicates pressure from buyers of the asset and potential continuation of growth already from current levels. Currently, we should anticipate an attempt at developing a bearish correction in the GOLD course and a test of support level near the area 3320. From where it is expected to see a bounce upwards and a continuation of price rise on Gold with a potential target above the level of 3485.
GOLD Forecast and XAU/USD Analysis for June 4, 2025
Additional indications for the depreciation of the XAU/USD quotes will be a test of the support line on the Relative Strength Index (RSI) indicator. A second signal will be a bounce off the lower boundary of the bull channel. Confirmation that prices for GOLD will not rise on June 4, 2025, will come with a drop in quotations and breaking through the level of 3290. This will indicate a break of the support area and continuation of price declines to an area below the level of 3255. Expect acceleration of the XAU/USD quotes upwards with a breakthrough of the resistance zone and closing price above the level of 3405.
GOLD Forecast and XAU/USD Analysis for June 4, 2025 anticipates an attempt to develop a bearish price correction and testing the support area near the level of 3320. Then, continuation of the rise in metal prices towards higher levels above 3485. The rise in the Gold’s price scenario will be cancelled by a drop in the asset’s value on markets and a breakout through the level of 3290. This would indicate continued price decline for GOLD with a potential target below 3255.
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