Gold (XAUUSD) in panic: sellers are becoming more numerous

Gold (XAUUSD) prices fell to 4,476 USD. Selling may accelerate. Discover more in our analysis for 3 June 2026.

XAUUSD forecast: key takeaways

• Gold (XAUUSD) prices are falling on the back of US statistics and geopolitics
• The market is watching for signals regarding the US Federal Reserve’s monetary policy
• XAUUSD forecast for 3 June 2026: 4,450

Fundamental analysis

Gold (XAUUSD) prices dipped below 4,500 USD per troy ounce on Wednesday, continuing this week’s decline. Strong US labour market data put pressure on the market, fuelling expectations that high US interest rates will remain in place for longer.

Yesterday’s statistics showed that job openings in the US rose in April to their highest level in almost two years, while layoffs declined. This data confirms the resilience of the US economy and reduces the likelihood of near-term Fed policy easing.

Investors are now focused on Friday’s Nonfarm Payrolls report, which remains the main benchmark for assessing labour market conditions and the Federal Reserve’s next actions.

The situation in the Middle East remains an additional factor weighing on gold (XAUUSD). Uncertainty around negotiations between the US and Iran is supporting oil prices and fuelling inflation concerns. This also supports a tighter stance from the US regulator.

Meanwhile, the diplomatic process continues. Donald Trump stated that negotiations with Iran are still ongoing. Some media outlets report that the Iranian side is studying the final draft of the document, which could form the basis for further progress in the negotiations.

The gold (XAUUSD) forecast is moderately negative.

Technical outlook

On the H4 chart, gold (XAUUSD) remains under pressure after failing to consolidate above the 4,545–4,550 area. Since mid-May, the market has maintained a downward structure: each new rise encounters selling pressure, while highs are gradually shifting lower. Quotes are now trading around 4,475, remaining below the middle Bollinger Band, which indicates that sellers continue to hold the advantage.

In recent sessions, gold has entered a consolidation phase within the 4,450–4,550 range. The recovery attempt in late May allowed prices to rise to 4,580, but they failed to consolidate above this level. Subsequently, the market turned downwards again and approached the lower part of the range. The nearest support is located in the 4,450–4,460 area, while resistance remains around 4,500–4,550. As long as prices remain below this zone, upside potential appears limited.

Technical indicators confirm a cautiously negative scenario. MACD is hovering around the zero line and is gradually turning downwards, signalling a weakening recovery momentum. The Stochastic Oscillator is also declining after leaving overbought territory and is approaching the oversold area. This indicates continued pressure on the market and the risk of a retest of the 4,450 support level. To improve the technical picture, buyers need to push prices back above 4,500–4,550 and consolidate above this area.

XAUUSD overview

• Asset: XAUUSD
• Timeframe: H4 (Intraday)
• Trend: downward
• Key resistance levels: 4,500 and 4,550
• Key support levels: 4,450 and 4,350

XAUUSD trading scenarios for today

Main scenario (Sell Limit)

A rebound from the 4,500–4,550 resistance level would confirm continued selling pressure amid strong US labour market data and expectations that the Federal Reserve will keep rates high for an extended period.

• Take Profit: 4,350
• Stop Loss: 4,575

Alternative scenario (Buy Stop)

Consolidation above 4,550 would indicate a recovery in demand and allow buyers to drive a corrective rally.

• Take Profit: 4,700
• Stop Loss: 4,500

Risk factors

The key factor for XAUUSD remains the condition of the US labour market. An additional risk to the downside scenario remains geopolitical tensions in the Middle East, which may restore demand for safe-haven assets and support gold prices.

Summary

Gold prices are falling due to strong US economic statistics and expectations that the Federal Reserve will keep rates unchanged. The XAUUSD forecast for today, 3 June 2026, does not rule out a continued decline towards 4,450.

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