GOLD quotes continue their movement within the correction development and bear channel. Now of this forecast publication, the price of Gold per Troy Ounce stands at $3,358. Moving averages indicate a short-term upward trend. Prices broke through the area between signal lines upwards, which signals pressure from the buyers of the asset and potential continuation of growth already from current levels. Currently, it’s worth expecting an attempt to develop a bear correction in the Gold course and test the support level near the area 3335. From where one should expect a rebound upwards and continuation of the price rise for Gold with a potential target above the level 3465.
GOLD Forecast and XAU/USD Analysis for June 5, 2025
Additional signals indicating a drop in the XAU/USD quotations include testing the support line on the Relative Strength Index (RSI) indicator. The second signal will be rebounding from the lower boundary of the bull channel. Cancellation of the price increase for Gold on June 5, 2025 will happen upon a drop and breach of the level at 3315. This will indicate that support area has been breached, leading to further decline in the asset’s quotations towards an area below level 3265. An acceleration in rising quotations of XAU/USD is expected with a breakthrough resistance region and closing price above level 3405.
GOLD Forecast and XAU/USD Analysis for June 5, 2025 suggests an attempt to develop a bearish price correction and testing the support area near the level of 3335. Subsequently, continuation of the rise in metal prices’ quotes up to levels above 3465. The bullish price scenario on Gold will be cancelled by a drop in the asset’s value on markets and penetration through the level of 3315. This will indicate an ongoing reduction in Gold’s price with a potential target below 3265.
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