Gold hit new all-time highs, testing 3,508 USD and surging upwards. Discover more in our analysis for 2 September 2025.
XAUUSD forecast: key trading points
- Gold reached its all-time high at 3,500 USD
- US manufacturing PMI: previously at 49.8, projected at 53.3
- XAUUSD forecast for 2 September 2025: 3,500
Fundamental analysis
Today’s XAUUSD price forecast shows that gold prices have soared to a new all-time high, surpassing the 3,500 USD per ounce mark for the first time and reaching 3,508.65 USD. This comes amid a weaker US dollar and growing expectations of a large Federal Reserve rate cut. Quotes are currently around 3,493 USD per ounce.
Safe-haven demand for gold is fueled by expectations of a 25-basis-point Federal Reserve rate cut, although a 50-basis-point cut is also possible if Friday’s Nonfarm Payrolls data comes out weak.
Pressure on the Fed due to internal political conflicts, including attempts to remove a governor, undermines trust in the independence of the US central bank. The consequences could be dire for the USD – it is already weakening, and if this continues at the same pace, inflows into gold as a safe-haven asset will only grow.
The XAUUSD forecast for 2 September 2025 also takes into account that the US manufacturing PMI is projected to rise to 53.3. If the actual reading meets or exceeds expectations, the dollar could gain short-term support, potentially triggering a correction in XAUUSD prices.
XAUUSD technical analysis
On the H4 chart, XAUUSD quotes formed a Shooting Star reversal pattern near the upper Bollinger Band. At this stage, the market may form a corrective wave following this signal. Since XAUUSD prices remain within an ascending channel, the broader outlook still favours continued bullish momentum. The immediate correction target could be 3,470 USD.
At the same time, today’s XAUUSD technical analysis suggests an alternative scenario, with further growth towards 3,530 USD without a pullback.
The possibility of continued bullish momentum remains in place, and in the near term, XAUUSD quotes may head towards 3,650 USD.
Summary
The USD continues to weaken, while XAUUSD technical analysis points to further growth towards 3,530 USD, with minor corrections possible along the way.
Source: Roboforex