GOLD Price Analysis and Trade Forecast: Daily Trading Signal

Daily Price Outlook

- Immediate Resistance: $2,669.67; Next Levels: $2,692.74 and $2,707.78.

- Support Levels: $2,627.76; Further Supports: $2,613.84 and $2,598.13.

- Indicators: RSI at 30 signals oversold; 50 EMA at $2,685.75 remains key resistance.

Gold (XAU/USD) is trading at $2,654.78, marking a modest gain of 0.23% in today’s session as buyers maintain control above the pivot point of $2,643.92. This upward movement reflects continued demand for the safe-haven asset amid cautious market sentiment.

Immediate resistance stands at $2,669.67, with further targets at $2,692.74 and $2,707.78. A decisive break above $2,669.67 could accelerate bullish momentum, driving gold prices toward the next critical levels.

On the downside, support is seen at $2,627.76, followed by stronger cushions at $2,613.84 and $2,598.13. Traders should monitor these levels closely, as a breach below $2,643.92 could trigger selling pressure, leading to a test of lower supports.

Technically, the 50 EMA at $2,685.75 acts as a significant barrier for further gains, suggesting near-term overhead resistance.

Meanwhile, the Relative Strength Index (RSI) at 30 indicates oversold conditions, which may support a short-term recovery if buyers step in around key levels.

The overall trend remains cautiously bullish as long as gold sustains above the $2,643.92 pivot. A buy entry above this level with a target at $2,668 and a stop loss at $2,633 aligns with the prevailing market structure. However, any break below immediate support could invalidate the bullish bias.

GOLD (XAU/USD) - Trade Ideas

Entry Price – Buy Above 2643

Take Profit – 2668

Stop Loss – 2633

Risk to Reward – 1: 2.5

Profit & Loss Per Standard Lot = +$2500/ -$1000

Profit & Loss Per Mini Lot = +$250/ -$100