Gold is ending the trading week with a decline near the 4514 area. XAU/USD quotes continue to move within a bearish correction but remain within a bullish channel. Moving averages indicate an uptrend in gold. Prices continue to test the area between the signal lines, indicating buying pressure and potential continued price growth. Currently, we expect an attempt at a bearish price correction and a test of the support level near the 4395 area. Subsequently, we expect an upward rebound and continued growth in XAUUSD this trading week, with a potential target above 5245.
GOLD Weekly Forecast XAU/USD June 1 – 5, 2026
An additional signal favoring a decline in gold quotes and prices this trading week (June 1-5, 2026) will be a rebound from the support line on the relative strength indicator (RSI). The second signal will be a rebound from the lower boundary of the bullish channel. The XAU/USD price rally will be cancelled if the price falls and breaks the 3905 area. This will indicate a breakout of the lower boundary of the bullish channel and a continued decline in gold prices with a target below 3625. A breakout of the resistance area and a close above 4865 will confirm the asset’s price growth, signaling a breakout of the upper boundary of the downward correction channel.
GOLD Weekly Forecast XAU/USD June 1 – 5, 2026 suggests an attempt to develop a bearish correction and test the support level near 4395. Then, gold prices will continue to rise with a target above 5245. A test of the trendline on the relative strength indicator (RSI) will support the rally. A decline and a breakout of 3905 would cancel out the gold rally. This would indicate a continued decline below 3625.
