👀 Possible scenario:
Gold (XAU) jumped 2.81% on June 2, topping $3,370 per ounce — its highest in over three weeks — as investors sought safety amid rising geopolitical and economic tensions. A 0.7% drop in the U.S. dollar added to the rally, boosting gold's appeal for international buyers. The metal also gained on renewed trade war fears after Donald Trump proposed doubling tariffs on steel and aluminum imports, accusing China of violating a tariff truce — a claim Beijing denied.
Markets are eyeing the U.S. JOLTS Job Openings report on June 3 at 2:00 p.m. UTC. Strong data could reduce rate cut expectations and pressure gold below $3,340, while weak numbers may support further gains.
✅ Support and Resistance Levels
Support level is now located at 3,261.00 .
Now, the resistance level is located at 3,395.00
Gold (XAU) jumped 2.81% on June 2, topping $3,370 per ounce — its highest in over three weeks — as investors sought safety amid rising geopolitical and economic tensions. A 0.7% drop in the U.S. dollar added to the rally, boosting gold's appeal for international buyers. The metal also gained on renewed trade war fears after Donald Trump proposed doubling tariffs on steel and aluminum imports, accusing China of violating a tariff truce — a claim Beijing denied.
Markets are eyeing the U.S. JOLTS Job Openings report on June 3 at 2:00 p.m. UTC. Strong data could reduce rate cut expectations and pressure gold below $3,340, while weak numbers may support further gains.
✅ Support and Resistance Levels
Support level is now located at 3,261.00 .
Now, the resistance level is located at 3,395.00
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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.