Gold Analysis Today 09/06: Gold's Rally May Fail (Chart)

(MENAFN- Daily Forex) Today's Gold Analysis Overview:

• The overall Gold Trend: Bullish.
• Today's Gold Support Levels: $3295 – $3240 – $3180 per ounce.
• Today's Gold Resistance Levels: $3355 – $3380 – $3420 per ounce.

Today's gold trading signals update:

• Sell Gold from the $3370 resistance level with a target of $3280 and a stop-loss of $3400.
• Buy Gold from the $3280 support level with a target of $3400 and a stop-loss of $3220.

Technical Analysis of Gold Price (XAU/USD) Today:

At the start of this week's trading, spot gold prices attempted an upward rebound to recover from recent selling pressures that pushed the gold price index to the $3293 per ounce support level in morning trading today, Monday, June 9, 2025. Following this rebound, gold's price settled around $3325 per ounce at the time of writing. According to performance across gold trading platforms, gold prices have stabilized as investors await the second round of trade talks between the United States and China. After the anticipated phone call between President Donald Trump and President Xi Jinping on Thursday, top negotiators from Washington and Beijing are scheduled to hold talks in London later today, raising hopes that the world's two largest economies can make progress on a range of disputes that have rattled markets this year Tips:

We still advise buying gold bullion on every dip, while consistently monitoring market influencing factors and avoiding excessive risk, regardless of the strength of trading opportunities.

In addition, the stronger-than-expected US jobs report released on Friday alleviated some concerns about the US economic slowdown and dampened hopes of an imminent interest rate cut by the US Federal Reserve this year. On the geopolitical front, Russia launched a massive drone and missile attack on Kyiv and other parts of Ukraine early Friday, days after a surprise Ukrainian attack on Russian air bases.

Top Forex Brokers1 Get Started 74% of retail CFD accounts lose money Today's Technical Outlook for Gold Price:

Based on the daily timeframe chart and gold analysts' forecasts, the overall trend for gold prices remains bullish. Also, the opportunity to surpass the psychological $3300 per ounce resistance is strong. This level will continue to symbolize the resilience of the bulls and their readiness for new record upward breakthroughs if global trade and geopolitical tensions escalate, central bank purchases of gold bullion for hedging increase, and pressure on the US dollar's performance persists. According to the movement of technical indicators, the 14-day Relative Strength Index (RSI) remains above the midline, supporting an upward rebound. At the same time, the MACD indicator lines are in a relatively neutral position, with the stronger inclination still upwards.

EURUSD Chart by TradingView

The technical indicators may reach oversold conditions if gold bulls succeed in moving towards the $3410 and $3500 per ounce resistance levels, respectively. Conversely, over the same timeframe, the $3220 and $3165 per ounce support levels will remain crucial to confirm a shift in the trend to bearish.

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