Gold ends the trading week with a correction near the area of 3293. The price of XAU/USD continues within a correction and a bearish channel. Moving averages point to an uptrend in Gold. Prices have broken through the zone between signal lines upwards, which indicates pressure from buyers and potential continuation of price growth. Currently, one should anticipate the development of a bearish correction and testing of support levels near the area 3195. Next, a rebound in prices upwards and further growth of XAUUSD on this trading week with a potential target above the level 3745.
GOLD Weekly Forecast XAU/USD June 2 — 6, 2025
Additional indication for the growth of quotes and gold prices on the current trading week from June 2 to June 6, 2025 will be a bounce off the trend line on the Relative Strength Index (RSI) indicator. The second signal would be a rebound off the lower boundary of the bull channel. Cancellation of the upward movement option for XAU/USD quotes would be the price drop and penetration into the area of 3045, indicating a breakout of the level of the lower boundary of the bull channel and continued gold prices decline with a target below the level of 2785. Confirmation of the growth in asset value would be breaking through the resistance zone and closing quotes above the level of 3405.
GOLD Weekly Forecast XAU/USD June 2 — 6, 2025 anticipates the development of a bearish correction and testing of support levels near the area of 3195. Then, continuation of gold prices’ rise with the target above level 3745. An increase in quotes will be supported by testing the trend line on the Relative Strength Index (RSI) indicator. Confirmation that gold’s upward movement has stopped would be a decline and breakthrough below the level of 3045. This suggests further downward movement of prices into the area below the level of 2785.
