
Weekly Analysis List
XAU/USD Weekly Analysis
6/2/25

Market Overview
📈 Market Overview
Current Price: ~$3,358 per ounce
Trend: Bullish
Weekly Change: +2.3%
Volatility: Elevated due to geopolitical tensions and trade uncertainties
Gold prices have increased, reaching approximately $3,358 per ounce, driven by heightened demand amid global trade tensions and geopolitical conflicts. The recent announcement by President Donald Trump to double tariffs on steel and aluminum imports has influenced investor behavior, resulting in a shift towards gold as an asset.
🔍 Technical Analysis
Support Levels:
• $3,320 – Recent breakout zone
• $3,305 – Minor swing low
• $3,230 – Previous consolidation area
Resistance Levels:
• $3,366 – Immediate resistance
• $3,392 – April high
• $3,435 – Major resistance level
Indicators:
• RSI: Approaching overbought territory, indicating potential for short-term pullbacks
• MACD: Bullish crossover, indicating upward momentum
• Moving Averages: Price remains above key moving averages, suggesting a bullish outlook
A sustained move above $3,366 could lead to higher levels toward $3,392 and $3,435. Conversely, a decline below $3,320 may result in testing lower support levels.
📰 Fundamental Factors
Geopolitical Tensions: Increasing conflicts, such as those between Russia and Ukraine, have led to greater demand for safe-haven assets like gold.
Trade Policies: President Trump's decision to double tariffs on steel and aluminum imports has contributed to trade uncertainties, influencing gold's appeal.
US Dollar Weakness: The dollar index has declined, making gold more affordable for foreign buyers and supporting its price.
Interest Rate Outlook: Comments from Federal Reserve officials indicate that interest rate cuts are possible, which typically supports gold prices.
📅 Key Events This Week
3 June: US ISM Manufacturing PMI release
5 June: ECB Interest Rate Decision
6 June: US Non-Farm Payrolls data
Conclusion
📈 Trading Strategy
Long Position:
Entry: Buy near $3,320
Target: $3,392
Stop-Loss: Below $3,305
Short Position:
Entry: Sell near $3,366
Target: $3,320
Stop-Loss: Above $3,392
Traders should monitor key economic releases and geopolitical developments, as they can significantly impact gold prices.