Gold Holds Ground as Market Eyes Tariffs and Dollar Moves
Official chart data from TradingView and market sources confirm that gold traded in a defined range over the past 24 hours, with price action reflecting both caution and resilience.
On June 3, 2025, gold spot prices opened near $3,355 and fluctuated between a low of $3,348 and a high of $3,357, according to the latest 4-hour candlesticks visible on the chart.
The market’s tone shifted after the June 2 spike, with prices consolidating below resistance at $3,399 and repeatedly testing support at $3,340.
The 50-period moving average, now at $3,340, provided a solid support base, while the 200-period moving average at $3,305 remained well below current prices, underlining the prevailing uptrend.
Gold’s price stayed above the Ichimoku cloud for most of the session, confirming the bullish structure.
Technical indicators point to consolidation after the rally. The Relative Strength Index approached 70 during the June 2 surge, signaling overbought conditions, but eased back as prices retreated.
Gold Holds Ground as Market Eyes Tariffs and Dollar Moves
The MACD line remained above the signal line, though the gap narrowed, reflecting a loss of momentum.
Bollinger Bands tightened as volatility decreased, with price action contained in the upper half of the band, indicating a pause after the strong move.
Fundamentals continue to drive gold’s underlying strength. Safe-haven demand persists amid ongoing U.S.-China tariff tensions and new U.S. duties on steel and aluminum.
The OECD’s warning about slowing global growth and a weaker U.S. dollar earlier in the week supported gold, but a late-session dollar rebound capped gains.
Central bank buying and steady ETF inflows provided a floor for prices, while profit-taking limited upside after the June 2 peak.
Volumes increased during the late June 2 rally and again as prices pulled back, showing active trading on both sides.
Key support held at $3,340, while resistance at $3,399 remains unbroken. The technical setup signals a market in consolidation, with traders awaiting new catalysts from economic data and policy developments.
In summary, gold traded between $3,348 and $3,357 on June 3, consolidating after a sharp rally to $3,399 late on June 2.
The market remains underpinned by geopolitical risk and safe-haven flows, but faces resistance without fresh bullish triggers.
The technical and fundamental picture suggests stability, with the next move likely driven by macroeconomic headlines and currency shifts.
This article was produced by The Rio Times’ automated newsroom system. How we use AI · Report an error · Editorial responsibility: Matthias Camenzind, Editor-in-Chief
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