GOLD Price Analysis and Trade Forecast: Daily Trading Signal

Daily Price Outlook

- Bullish Momentum: Sustained above $2,658.36, targeting $2,688.97 and $2,704.36.

- Support Levels: Immediate support at $2,646.20; deeper at $2,617.67.

- RSI & EMA: RSI at 65 signals robust buying; 50 EMA at $2,647.36 reinforces short-term support.

Gold (XAU/USD) is trading at $2,668.80, up 0.31%, maintaining a bullish stance above its pivot point at $2,658.36. The 4-hour chart reflects strong upward momentum, supported by the 50-day EMA at $2,647.36, which serves as a robust near-term support level.

The Relative Strength Index (RSI) at 65 indicates sustained buying interest but warns of approaching overbought territory, suggesting possible consolidation ahead.

Immediate resistance is observed at $2,676.72, with further hurdles at $2,688.97 and $2,704.36. These levels present critical milestones for continued bullish momentum.

On the downside, immediate support is situated at $2,646.20, with deeper safety nets at $2,635.36 and $2,617.67. A break below these levels could trigger increased selling pressure, potentially challenging the broader bullish outlook.

The price action reflects a well-defined upward trajectory, driven by geopolitical uncertainty and renewed interest in gold as a safe-haven asset.

A sustained break above $2,676.72 would solidify the bullish narrative, targeting $2,688.97 as the next key level. Conversely, a failure to hold $2,658.36 could signal a bearish retracement, testing immediate support zones.

Gold traders should closely monitor resistance at $2,688.97 and RSI levels to anticipate potential reversals. A cautious approach is advised, with strategic entries above $2,658 and stops placed at $2,646 to manage risk effectively.

GOLD (XAU/USD) - Trade Ideas

Entry Price – Buy Above 2658

Take Profit – 2680

Stop Loss – 2646

Risk to Reward – 1: 1.8

Profit & Loss Per Standard Lot = +$2200/ -$1200

Profit & Loss Per Mini Lot = +$220/ -$120