GOLD Price Analysis and Trade Forecast: Daily Trading Signal

Daily Price Outlook

- Key Levels in Focus: Holding above $2,635.82 keeps the bullish outlook intact, targeting $2,666.85 and beyond.

- Technical Indicators: RSI at 53 and price above the 50 EMA signal short-term bullish momentum.

- Trading Strategy: Buy above $2,635 with a target of $2,666 and a stop loss at $2,621 for disciplined risk management.

Gold (XAU/USD) is trading at $2,644.26, up 0.42%, maintaining its bullish momentum above the pivot point of $2,635.82. The 50-day EMA at $2,642.45 aligns closely with the price, reinforcing a short-term bullish bias.

Immediate resistance is observed at $2,666.85, followed by $2,688.97 and $2,707.52, indicating potential upside if momentum sustains.

On the downside, immediate support is situated at $2,617.61, with additional safety nets at $2,595.99 and $2,575.78.

The RSI at 53 signals neutral momentum, providing room for further gains without entering overbought territory.

A break below $2,635.82 could challenge the bullish structure, but maintaining above this level keeps the focus on upward targets.

Traders should monitor the $2,666.85 resistance closely, as a breach could accelerate gains toward $2,688.97. Conversely, a move below $2,617.61 could attract selling pressure, targeting lower supports.

Current market sentiment suggests a cautious yet optimistic outlook, driven by technical stability and broader macroeconomic factors.

GOLD (XAU/USD) - Trade Ideas

Entry Price – Buy Above 2635

Take Profit – 2666

Stop Loss – 2621

Risk to Reward – 1: 2.2

Profit & Loss Per Standard Lot = +$3100/ -$1400

Profit & Loss Per Mini Lot = +$310/ -$140