GOLD Price Analysis and Trade Forecast: Daily Trading Signal

Daily Price Outlook

- Bullish Signal: Gold holds above $2,632, supported by the 50-day EMA at $2,620.

- Key Resistance: Breakout above $2,650 could extend gains to $2,664 and $2,678.

- RSI Momentum: RSI at 60 suggests moderate bullish sentiment, supporting further upside.

Gold is trading at $2,635.20, up 0.04% on the day, reflecting continued consolidation around its pivot point of $2,632.02. The 4-hour chart highlights a cautiously bullish tone as the price remains supported above the 50-day EMA at $2,620, with the Relative Strength Index (RSI) at 60, indicating moderate bullish momentum.

Immediate resistance is positioned at $2,650.06, followed by key levels at $2,664.89 and $2,678.42. A break above $2,650.06 could signal further upside, with the potential to test the upper resistance zones. Conversely, immediate support lies at $2,607.94, with deeper safety nets at $2,593.70 and $2,577.23 if bearish momentum re-emerges.

Gold’s recent price action indicates a stable upward trend, supported by the 50-day EMA. The technical setup suggests buying opportunities above $2,632, targeting $2,650, while a break below $2,620 could trigger bearish sentiment. Traders should monitor resistance levels closely, as a decisive move above $2,650 may strengthen the bullish outlook.

GOLD (XAU/USD) - Trade Ideas

Entry Price – Buy Above 2632

Take Profit – 2650

Stop Loss – 2620

Risk to Reward – 1: 1.5

Profit & Loss Per Standard Lot = +$1800/ -$1200

Profit & Loss Per Mini Lot = +$180/ -$120