📊 Market Overview
Gold (XAU/USD) surged and recorded a session high near $3,392/oz on June 3, 2025. The U.S. dollar continued to weaken as Treasury yields declined, while investors rushed into safe-haven assets amid intensifying Russia–Ukraine tensions and renewed U.S.–China trade conflicts.
📉 Technical Analysis
• Key Resistance: $3,392 – $3,410 (new high zone)
• Nearest Support: $3,345 – $3,318
• EMA 09: Price remains above EMA 09, confirming the short-term uptrend.
• RSI (H4): Approaching 70, showing strong bullish momentum but nearing overbought conditions.
• Candle Pattern: Long upper wick seen on H4 candle at $3,392 suggests profit-taking pressure. If this level holds, a short-term correction may follow.
📌 Outlook
Gold may experience a short-term pullback if it fails to break above the $3,392 – $3,410 resistance area due to profit-taking. However, the broader trend remains bullish as long as the USD stays weak and geopolitical tensions persist.
💡 Suggested Trading Strategy
🔻 SELL XAU/USD at: $3,388 – $3,392
🎯 TP: $3,345 (~400 pips)
❌ SL: $3,397
🔺 BUY XAU/USD at: $3,318 – $3,322
🎯 TP: $3,365
❌ SL: $3,308
Gold (XAU/USD) surged and recorded a session high near $3,392/oz on June 3, 2025. The U.S. dollar continued to weaken as Treasury yields declined, while investors rushed into safe-haven assets amid intensifying Russia–Ukraine tensions and renewed U.S.–China trade conflicts.
📉 Technical Analysis
• Key Resistance: $3,392 – $3,410 (new high zone)
• Nearest Support: $3,345 – $3,318
• EMA 09: Price remains above EMA 09, confirming the short-term uptrend.
• RSI (H4): Approaching 70, showing strong bullish momentum but nearing overbought conditions.
• Candle Pattern: Long upper wick seen on H4 candle at $3,392 suggests profit-taking pressure. If this level holds, a short-term correction may follow.
📌 Outlook
Gold may experience a short-term pullback if it fails to break above the $3,392 – $3,410 resistance area due to profit-taking. However, the broader trend remains bullish as long as the USD stays weak and geopolitical tensions persist.
💡 Suggested Trading Strategy
🔻 SELL XAU/USD at: $3,388 – $3,392
🎯 TP: $3,345 (~400 pips)
❌ SL: $3,397
🔺 BUY XAU/USD at: $3,318 – $3,322
🎯 TP: $3,365
❌ SL: $3,308
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.