Gold Price Forecast for Next Week (15th

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Support 2	Support 1	Current GOLD CMP	Resistance 1	Resistance 2
139,981	146,444	150,675	154,637	157,890

COMEX Gold closed near $4,200 per ounce on Friday, posting a second straight weekly decline as expectations of higher global interest rates weighed on sentiment. Markets were encouraged by signs of potential progress in U.S.-Iran negotiations, although Tehran said no final decision had been reached. Gold remained under pressure amid concerns that higher energy prices could fuel inflation and keep interest rates elevated. Supporting this view, the ECB raised rates for the first time since 2023 and lifted its inflation forecasts. Additionally, U.S. producer prices rose 6.5% YoY in May, highlighting persistent inflationary pressures and supporting expectations of a Federal Reserve rate hike later this year. Market participants will closely monitor the Federal Reserve's June 16-17 policy meeting, the first under new Fed Chair Kevin Warsh, alongside upcoming policy decisions from the Bank of England and the Bank of Japan.

Gold price has resumed with a mild gapped down and traded back & forth over the course of the week, however settled with a bearish candle at 150,675, posted weekly decline of -3.17%. Price has broken through the key moving averages of 50 and 100-DEMA levels placed at 154,237 and 150,733. Price has found the support low at over 146,444 on Thursday and rebounded marginally. Here, major support would be at 200-DEMA level placed at 139,981 and on the other hand, Daily SAR is placed at 157,890 which will be a major hurdle. RSI levels remained sluggish below the 50 level on Daily timeframe. On 4-hourly MACD, we can observe a bullish crossover below zero-line with the emergence of positive histograms.

The overall trend in Gold price is expected to be Moderately Bearish in the coming week, and traders should keep an eye on key US economic data such as Manufacturing index, Retail sales and Unemployment claims along with the Fed rate announcement, which are scheduled to be in next week.

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Prediction given by Technical Research Team - Choice.