GOLD Price Analysis and Trade Forecast: Daily Trading Signal

Daily Price Outlook

- Critical Pivot: Gold remains below the pivot point at $2,620.16, reinforcing short-term bearish bias.

- Resistance Levels: Immediate resistance lies at $2,638.91, with potential upside targets at $2,651.73 and $2,665.31.

- Bearish Signals: RSI at 43 and a price below the 50 EMA suggest weak momentum in the current session.

Gold (XAU/USD) is trading at $2,608.34, up 0.10%, as cautious optimism dominates amid low-volume, year-end trading. The pivot point at $2,620.16 remains critical, with prices struggling to sustain upward momentum.

Immediate resistance lies at $2,638.91, with further barriers at $2,651.73 and $2,665.31. On the downside, support is found at $2,593.70, followed by $2,577.23 and $2,561.89, key levels for maintaining bearish momentum.

The 4-hour chart reveals gold trading just below its 50 EMA at $2,620.02, signaling near-term weakness. The Relative Strength Index (RSI) stands at 43, reflecting mild bearish sentiment without indicating oversold conditions.

A break above $2,620.16 could shift momentum upward, targeting resistance at $2,638.91. Conversely, failure to hold above the pivot point may lead to declines, testing support at $2,593.70.

Gold’s price action is being shaped by broader market sentiment, with traders balancing geopolitical risks and expectations of the Federal Reserve’s 2025 rate policy.

A breakout above $2,638.91 would suggest renewed buying interest, while a decisive drop below $2,593.70 could accelerate selling pressure.

GOLD (XAU/USD) - Trade Ideas

Entry Price – Sell Below 2612

Take Profit – 2594

Stop Loss – 2624

Risk to Reward – 1: 1.5

Profit & Loss Per Standard Lot = +$1800/ -$569

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