GOLD: Gold Price Forecast for September 3

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GOLD: Gold Price Forecast for September 3GoldOANDA:XAUUSDStone_Haven🎯XAU/USD is showing a strong recovery on the H1 timeframe following a sharp drop from the 4,600 level to below 4,300. Current market structure indicates that buyers are regaining short-term control, though there is insufficient evidence to confirm a complete reversal of the prior downtrend. 📊 H1 Technical Outlook A key feature on the chart is the 4,355–4,370 zone, marked by the green demand area. Price reacted strongly in this region after bottoming out around 4,280–4,300. The fact that the price has reclaimed the EMA20, EMA50, and EMA100 serves as a positive signal for the bulls. Notably, the price has now surpassed the EMA100 near 4,425, indicating improving recovery momentum. However, the EMA200 at 4,462 remains above the current price, aligning closely with the red supply zone at 4,450–4,470. This represents the most critical resistance area on the chart at present.