In this Weekly Market Forecast, we will analyze Gold for the week of June 1 – 4th.
Gold prices are expected to see short-term volatility, with a slight lean toward sideways or lower movement early in the week as traders take profits. Prices are consolidating around the $4,500/oz level. However, mid-to-late week movements will depend heavily on upcoming news announcements, especially Non-Farm Payroll numbers.
There is no reason to take a buy in this market until there is a significant bullish break of structure. I’ll be keeping an eye out for it on the 1H TF.
Enjoy!
May profits be upon you.
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