Gold (XAUUSD) nears reversal: bulls gearing up for a surge

XAUUSD prices are declining on Tuesday, although buyers continue to defend the key support level. The quotes currently stand at 3,309 USD. Discover more in our analysis for 10 June 2025.

XAUUSD forecast: key trading points

• High-level US-China trade talks began in London
• Easing tensions between the US and China lower demand for safe-haven assets
• US inflation expectations for the year ahead fell in May
• XAUUSD forecast for 10 June 2025: 3,345

Fundamental analysis

XAUUSD quotes move lower today due to easing trade tensions between the US and China, which reduces demand for safe-haven assets. However, despite the current pullback, gold prices remain within an uptrend. Buyers’ attempt to hold the 3,300 USD support level may lead to the completion of a potential Double Bottom reversal pattern.

High-level negotiations between the US and China began in London on Monday and continued today. Both sides appear committed to reinforcing a trade truce and easing the long-standing dispute.

Meanwhile, a New York Fed survey revealed that US inflation expectations for the year ahead fell to 3.2% in May from 3.6% in April. Additionally, expectations of a rise in unemployment over the next year declined to 40.8%, down from 44.1% a month earlier.

XAUUSD technical analysis

XAUUSD quotes are bouncing off the 3,300 support level. The XAUUSD price forecast suggests the pair could resume its upward impulse, with the next target at 3,345. Technical indicators support the bullish scenario, with prices remaining within the demand area and breaking out of a descending channel. The Stochastic Oscillator is turning upwards from the oversold area. A breakout above the upper boundary of the descending channel with consolidation above 3,325 would further confirm bullish momentum.

Summary

Renewed interest in gold is supported by declining US inflation expectations. Today’s XAUUSD analysis points to the potential for a short-term bullish impulse, aiming for 3,345.