Gold may continue to rise 6/2/2025

Gold prices successfully reached the target of 2870 in the previous session, recording a new high at $2882 per ounce.

Technical Outlook:

• Moving averages continue to support an upward trend.
• Gold remains within an ascending price channel, with 2840 acting as a key support level.

Key Levels to Watch:

• Bullish Scenario:
  • A break above 2882 could drive prices toward 2887 and 2890, with the potential to exceed the psychological $2900 level.
• Bearish Scenario:
  • A drop below 2840 may halt the uptrend, exposing 2820 and 2800 as the next downside targets.

Market Risks & Considerations:

• Geopolitical tensions continue to influence gold as a safe-haven asset.
• High volatility is expected, with potential sharp price movements.

⚠ Risk Warning: The market remains highly uncertain, and all scenarios are possible.

Disclaimer: Trading in CFDs involves risks, and all scenarios are possible. This analysis is not investment advice but rather an interpretation of the current technical landscape for gold.

S1: 2844.00	R1: 2887.00
S2: 2820.00	R2: 2906.00
S3: 2800.00	R3:  2930.00