Gold (XAUUSD) at a one-week low: trade optimism reduces risk appetite

Gold (XAUUSD) starts the week near 3,308 USD. The market shows a positive tone ahead of US–China talks. Details in our analysis for 9 June 2025.

XAUUSD forecast: key trading points

• Gold (XAUUSD) continues to decline on Monday
• Market sentiment turns optimistic ahead of the US–China leaders’ summit
• XAUUSD forecast for 9 June 2025: 3,293 and 3,272

Fundamental analysis

Gold (XAUUSD) dropped to 3,308 USD on Monday. Prices have declined for three consecutive sessions as investors anticipate a positive outcome from a new round of trade talks between the US and China.

US President Donald Trump and Chinese President Xi Jinping are scheduled to meet today in London. Their meeting raises hopes of progress in resolving trade disputes that have stressed global markets throughout the year.

Adding pressure to gold, Friday’s strong US jobs report beat expectations and eased concerns over economic slowdown. It also reduced the likelihood of a near-term rate cut by the Federal Reserve.

However, potential geopolitical escalations may limit the decline in gold prices.

The outlook for Gold (XAUUSD) remains moderately negative.

XAUUSD technical analysis

On the H4 chart, Gold (XAUUSD) looks set to continue its downward wave towards 3,293. If this interim support fails to hold, the next downside target for sellers will be 3,272.

Summary

Gold (XAUUSD) declines for the third day in a row. Optimism over US labour market data and the upcoming US–China negotiations give investors confidence and lessen demand for safe havens. The forecast for Gold (XAUUSD) on 9 June 2025 suggests a continued downward wave with targets at 3,293 and potentially 3,272.