Gold Price Forecast for Next Week

Gold Price Forecast for Next Week (14th- 20th June 2025)

Comex Gold spot has boosted in the initial phase of the week, made a high at $3402. However, price has lost its strength over the weekend and closed at $3309 / ounces. Key support would be at $3245.

Gold started the week on a firm footing, buoyed by Fed rate cut hopes after weak U.S. manufacturing data, slowing services activity, and softer hiring, all amid intensifying geopolitical tensions. However, optimism quickly faded as stronger-than-expected U.S. jobs data dashed those expectations—dragging prices down and erasing most of the early gains.

MCX Gold August contract has formed a Hammer formation in Weekly chart. Price has moved in Rising channel and maintained upside trajectory over all key moving averages i.e. 50, 100 and 200-DMA levels placed at 82550, 74862 and 65547. Daily SAR (Stop & Reverse) is placed at 89458. Key resistance would be at previous all time high level of 99358 and breach of this level will accelerate upward momentum in Gold price in uncharted zone. RSI levels remains above 50 level on Daily and Weekly chart.

In coming week, we are expecting Sideways to Bullish trend in Gold price and price traders should keep an eye on key US economic data such as US Inflation, PPI, Consumer sentiment, Inflation expectations and Unemployment Claims which are scheduled to be release in next week.

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Prediction given by Technical Research Team - Choice.