Gold is ending the trading week with a decline near the 4317 area. XAU/USD quotes continue to move within the downward trend and have exited the 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 price growth and a test of the resistance level near the 4445 area. Subsequently, a downward rebound and continued decline in XAUUSD are expected this trading week, with a potential target below the 3605 level.
GOLD Weekly Forecast XAU/USD June 8 – 12, 2026
An additional signal of a decline in gold quotes and prices this trading week (June 8-12, 2026) will be a rebound from the resistance line on the relative strength indicator (RSI). A second signal will be a rebound from the upper boundary of the bearish channel. The XAU/USD price decline would be cancelled if the pair were to rise sharply and break above 4470. This would indicate a breakout of the upper boundary of the bearish channel and continued gold price growth with a target above 4760. A breakout of the support area and a close below 4285 would confirm the asset’s decline, signaling a breakout of the EMA-255 and increasing bearish pressure.
GOLD Weekly Forecast XAU/USD June 8 – 12, 2026 suggests an attempt to develop a bullish correction and test the resistance level near 4445. Subsequently, gold prices should continue to decline with a target below 3605. A test of the trendline on the relative strength indicator (RSI) would support a decline. A strong rally and a breakout of 4470 would cancel out the gold decline scenario. This would indicate a continued rise above 4760.
