XAUUSD (Gold) Price Forecast 02 Sept, 2025: We will closely monitor XAUUSD as it approaches the key resistance level of $3509.00. A confirmed breakout above this mark may signal strongbullish momentum, opening doors for further upside potential. Traders and investors should stay alert, as this level is crucial for the next directional move in silver.
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Yellow Metal momentum on daily chart intact
“XAUUSD (Gold) pushed above 3500 briefly this morning, before easing below. We wouldbe watching how price action behaves given that theroom above $3500 is uncharted. The last time whenGold traded 3500 was during intradayin Apr-2025. We would be keen to see if Gold manages to make a dailyclose above that level as that could lend some momentum to Gold.”
“More broadly, we stilllook for Gold prices to trend higher over time but expect the pace of gains to moderate vs. the sharp rally seenearlier this year. The drivers that had driven Gold prices sharply higher, including geopolitics and tariffuncertainties have somewhat subsided a bit. Nevertheless, there is still risk of fresh geopolitical risks and policy uncertainties returning, and that would lend a kicker to Gold.”
XAG/USD (Silver) Outlook
XAG/USD (Silver) price halts its five-day winning streak, trading around $40.30 per troy ounce during the European hours after retreating from $40.85, the highest sinceSeptember 2011, reached onTuesday. The technical analysis of the dailychart suggests the price of the precious metal rises upwards within an ascending channel pattern, strengthening the bullish bias.
The 14-day Relative Strength Index (RSI) has moved slightly below the 70 level, suggesting a retreat after reaching an overbought region. However, the Silver price may regain ground as the market sentiment is still bullish. Additionally, the Silver price is trading above the nine-day Exponential Moving Average (EMA), indicating that short-term price momentum is stronger.