Gold ends the trading week with a correction near the 3317 area. XAU/USD quotes continue to move within the correction and bullish channel. Moving averages indicate an upward trend for gold. Prices broke through the area between the signal lines upwards, indicating pressure from buyers and a potential continuation of price growth. Now, we should expect an attempt at a bearish price correction and a test of the support level near the 3275 area. Further, prices will rebound upward and XAUUSD will continue to grow during the current trading week with a potential target above the 3925 level.
GOLD Weekly Forecast XAU/USD June 9 — 13, 2025
An additional signal in favor of growth in gold quotes and prices in the current trading week of June 9 — 13, 2025 will be a rebound from the trend line on the relative strength index (RSI). The second signal will be a rebound from the lower border of the bullish channel. A fall in prices and a breakout of the 3045 area will cancel the option of an increase in XAU/USD quotes. This will indicate a breakout of the lower border of the bullish channel and a continuation of the fall in gold prices with a target below the 2785 level. Confirmation of the asset’s growth will be a breakout of the resistance area and the closing of quotes above the 3405 level.
GOLD Weekly Forecast XAU/USD June 9 — 13, 2025 suggests an attempt to develop a bearish correction and test the support level near the 3275 area. Then, the price of gold will continue to rise with a target above the 3925 level. A test of the trend line on the relative strength indicator will support the rise in quotes. A fall and breakout of the 3045 level will cancel the growth scenario for gold. This will indicate a continuation of the decline in quotes to the area below the 2785 level.
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