GOLD Price Analysis and Trade Forecast: Daily Trading Signal

Daily Price Outlook

- Gold consolidates near the $2,646 pivot, eyeing $2,670.45 resistance.

- Support levels at $2,624 and $2,603 provide critical downside buffers.

- RSI at 57 indicates neutral momentum; breakout to determine trend.

Gold is trading at $2,657.43, down 0.16%, as traders digest recent price movements within a consolidation phase.

The 4-hour chart shows gold trading just above its pivot point at $2,646.10, supported by the 50 EMA at $2,636.37, suggesting near-term stability.

However, the RSI at 57 reflects neutral momentum, leaving the next directional move dependent on price action near key levels.

Immediate resistance lies at $2,670.45, with subsequent targets at $2,692.82 and $2,710.72, signaling potential upside if bullish momentum builds.

On the downside, immediate support is at $2,624.44, followed by stronger levels at $2,603.20 and $2,583.91. A break below $2,646.10 could drive bearish sentiment toward these levels, while a bounce from the pivot point may reignite upward momentum.

Traders eyeing long positions could consider a buy limit near $2,652 with a take-profit target of $2,672 and a stop-loss at $2,640.

The tight trading range suggests caution as gold remains influenced by broader market drivers, including dollar strength and geopolitical factors. Watch for a breakout above $2,670.45 or a decisive move below $2,646.10 for clearer direction.

GOLD (XAU/USD) - Trade Ideas

Entry Price – Buy Limit 2652

Take Profit – 2672

Stop Loss – 2640

Risk to Reward – 1: 1.6

Profit & Loss Per Standard Lot = +$2000/ -$1200

Profit & Loss Per Mini Lot = +$200/ -$120