GOLD Price Analysis and Trade Forecast: Daily Trading Signal

Daily Price Outlook

- Critical Levels: Pivot at $2,644.33; resistance at $2,666.85; support at $2,617.61.

- RSI at 50: Neutral momentum signals a balance between buyers and sellers.

- Technical Setup: A move above $2,644.33 may spark bullish momentum; below $2,617.61 risks deeper declines.

Gold (XAU/USD) is trading at $2,638.45, down 0.24% in the session, reflecting cautious sentiment as the price hovers below the critical pivot point at $2,644.33.

Technical indicators point to a neutral bias, with the Relative Strength Index (RSI) at 50, suggesting equilibrium between buyers and sellers.

Immediate resistance is seen at $2,666.85, followed by $2,688.97 and $2,707.52, which represent significant hurdles for bullish momentum.

On the downside, support levels are positioned at $2,617.61, $2,595.99, and $2,575.78, marking areas to watch for potential bearish pressure. The 50-day EMA at $2,641.72 reinforces short-term resistance near the pivot, indicating a key zone for directional shifts.

Traders should monitor the $2,644.33 pivot closely. A sustained move above this level could target resistance at $2,666.85, validating a bullish breakout. Conversely, a break below $2,617.61 may trigger further declines, with $2,595.99 as the next support level.

GOLD (XAU/USD) - Trade Ideas

Entry Price – Buy Above 2626

Take Profit – 2666

Stop Loss – 2606

Risk to Reward – 1: 2

Profit & Loss Per Standard Lot = +$4000/ -$2000

Profit & Loss Per Mini Lot = +$400/ -$200