📊 Market Overview:
Gold prices surged on June 2, 2025, reaching multi-week highs as investors sought safe-haven assets amid escalating geopolitical tensions and trade war concerns. U.S. President Donald Trump's announcement to double tariffs on steel and aluminum imports to 50%, along with Ukraine's drone attacks on Russian facilities, prompted investors to flock to gold as a secure investment.
📉 Technical Analysis:
• Key Resistance: $3,380 – $3,405
• Nearest Support: $3,320 – $3,295
• EMA: Price is above EMA 09 → uptrend.
• Candlestick Patterns / Volume / Momentum: RSI(14) at 65 , MACD(12,26) signaling buy, indicating continued upward momentum.
📌 Outlook:
Gold may continue its short-term uptrend if it holds above the $3,320 support level. However, caution is advised due to potential technical corrections as RSI indicates overbought conditions.
💡 Suggested Trading Strategy:
SELL XAU/USD at: $3,380 – $3,385
o 🎯 TP: $3,320
o ❌ SL: $3,405
BUY XAU/USD at: $3,295 – $3,320
o 🎯 TP: $3,380
o ❌ SL: $3,270
Gold prices surged on June 2, 2025, reaching multi-week highs as investors sought safe-haven assets amid escalating geopolitical tensions and trade war concerns. U.S. President Donald Trump's announcement to double tariffs on steel and aluminum imports to 50%, along with Ukraine's drone attacks on Russian facilities, prompted investors to flock to gold as a secure investment.
📉 Technical Analysis:
• Key Resistance: $3,380 – $3,405
• Nearest Support: $3,320 – $3,295
• EMA: Price is above EMA 09 → uptrend.
• Candlestick Patterns / Volume / Momentum: RSI(14) at 65 , MACD(12,26) signaling buy, indicating continued upward momentum.
📌 Outlook:
Gold may continue its short-term uptrend if it holds above the $3,320 support level. However, caution is advised due to potential technical corrections as RSI indicates overbought conditions.
💡 Suggested Trading Strategy:
SELL XAU/USD at: $3,380 – $3,385
o 🎯 TP: $3,320
o ❌ SL: $3,405
BUY XAU/USD at: $3,295 – $3,320
o 🎯 TP: $3,380
o ❌ SL: $3,270
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📈 Daily Buy/Sell signals for investors
💡 Technical breakdowns & market outlooks
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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.
📊 Forex | Gold | Crypto Market Insights & Signals
📰 Real-time news updates & expert analysis
📈 Daily Buy/Sell signals for investors
💡 Technical breakdowns & market outlooks
🔗 Join our free group: t.me/+DmS-dVFJMm40MDM9
📰 Real-time news updates & expert analysis
📈 Daily Buy/Sell signals for investors
💡 Technical breakdowns & market outlooks
🔗 Join our free group: t.me/+DmS-dVFJMm40MDM9
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.