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01.06.202619:14 Forex Analysis & Reviews: XAU/USD Price Analysis and Forecast: Gold Remains Vulnerable to Further Decline

Exchange Rates 01.06.2026 analysis

Gold (XAU/USD) continues to post solid intraday losses, retreating from the $4,600 level.

From a technical perspective, XAU/USD maintains a short-term downward trend, trading within a descending parallel channel and below both the 20-day and 50-day Simple Moving Averages (SMAs). The moderately negative MACD histogram, combined with a Relative Strength Index (RSI) reading below 50, at around 44, suggests that the sell-off may continue amid weakening momentum.

Last week, the instrument showed resilience near the key 200-day SMA, which continues to support the longer-term upward trend. Therefore, it would be prudent to wait for a decisive break and consolidation below this moving average, currently located at $4,400, before considering a downside scenario toward the psychological level of $4,300.

On the other hand, the nearest resistance is located at the 20-day SMA near $4,580 and is further reinforced by the 50-day SMA at $4,630. A sustained break above this range will be necessary to ease the current downward pressure.

However, it is worth noting that negative oscillator readings continue to indicate that bearish traders retain the upper hand in the market.

*La presente analisi del mercato ha un carattere esclusivamente informativo e non rappresenta una guida per l`effettuazione di una transazione.

Irina Yanina,
Analytical expert of InstaSpot
© 2007-2026
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