GOLD Price Analysis and Trade Forecast: Daily Trading Signal

Daily Price Outlook

- Resistance Levels: $2,662.22, $2,675.23, $2,692.86.

- Support Zones: $2,624.44, $2,603.20, $2,583.91.

- Momentum: RSI at 54; price above 50 EMA indicates moderate bullish sentiment.

Gold (XAU/USD) is trading at $2,640.11, up 0.15% in the last session, as it continues to consolidate within a moderately bullish framework on the 4-hour chart.

The price hovers above the pivot point at $2,637.83, signaling a potential breakout from key levels. Immediate resistance is set at $2,662.22, followed by $2,675.23 and the critical $2,692.86 level. A successful breach above these levels could extend the bullish momentum.

On the downside, immediate support is observed at $2,624.44, with further safety levels at $2,603.20 and $2,583.91.

The 50-day EMA at $2,629.15 acts as a key support zone, maintaining the positive bias. The RSI stands at 54, suggesting neutral to moderate bullish momentum, with room for additional upside.

The consolidation phase reflects market indecision, but sustained movement above $2,637.83 may trigger buying interest targeting the $2,660 range.

Conversely, a break below $2,624.44 could shift sentiment, exposing gold to deeper retracements toward $2,583.91. Traders should monitor these levels closely for near-term directional clarity.

GOLD (XAU/USD) - Trade Ideas

Entry Price – Buy Above 2637

Take Profit – 2660

Stop Loss – 2619

Risk to Reward – 1: 1.2

Profit & Loss Per Standard Lot = +$2300/ -$1800

Profit & Loss Per Mini Lot = +$230/ -$180