XAUUSD Forecast for June 1, 2026

[OveFinance]

XAUUSD Forecast for June 1, 2026​

Gold found support at the previously identified level, but failed to sustain upside momentum amidst the latest news regarding Iran.

The IDF has vowed to escalate strikes on the suburbs of Beirut should Hezbollah continue its attacks.

IRAN IS PREPARED TO COMPLETELY CLOSE THE STRAIT OF HORMUZ AND INTENSIFY OPERATIONS IN THE BAB EL-MANDEB STRAIT TO EXERT PRESSURE ON ISRAEL - TASNIM

Currently, we are holding at the 50% retracement from the highs. If this level fails to hold, I will shift my outlook to the downside. For now, I remain on the sidelines, awaiting comments from Trump.

 

[OveFinance]

XAUUSD Forecast for June 2, 2026​

Gold held its ground at the 1/2 margin level, and technically, on higher timeframes, we have seen a correction toward that zone.

We remain within an upward margin cycle. The primary target for the start of the day is 4540.

The news landscape is quite significant:

Trump called Netanyahu 'crazy' and accused him of ingratitude during a phone call on June 1.

The reason cited is Israel's strikes on Lebanon and the subsequent suspension of US-Iran negotiations, as reported to Axios by three separate sources.

'You would be in prison if it weren't for me. I'm saving your ass. Everyone hates you now,' one of the sources quoted the American president as saying.

Following the conversation between Trump and Netanyahu, Israel allegedly abandoned plans to bomb Beirut.

 

[OveFinance]

Thread 'Gold Analysis for June 2, 2026'

Jun 2, 2026

Gold Analysis for June 2, 2026​

Gold has reached the previously projected level of 4540 on the spot market (https://overtonfinance.com/index.php?threads/xauusd-forecast-for-june-1-2026.58/post-89)

Positions are closed; currently staying out of the market.

Trade idea: Formation of a pattern via a local extreme in the 4502-4509 area (provided the price reaches it).

The immediate potential target is to break through the highs (potentially a marginal move), but I am setting a risk-to-reward ratio of 1:3 up to the point of breaking the highs.

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• Forum: XAU/USD (GOLD)