GOLD Price Analysis and Trade Forecast: Daily Trading Signal

Daily Price Outlook

- Bullish Pivot: Gold remains bullish above $2,687.13; resistance is at $2,696.72, with upside targets at $2,710.98 and $2,724.66.

- Support Levels: Immediate support lies at $2,645.00, with deeper levels at $2,627.99 and $2,614.89.

- Indicators: 50-day EMA at $2,657.96 confirms near-term strength; RSI reflects neutral momentum, signaling potential volatility.

Gold (XAU/USD) is trading at $2,669.19, up 0.22%, as the metal sustains modest upward momentum, driven by a retreat in U.S. Treasury bond yields. The price remains above the critical pivot point at $2,687.13, signaling a cautiously bullish sentiment.

Immediate resistance stands at $2,696.72, with higher targets at $2,710.98 and $2,724.66. On the downside, key support levels are at $2,645.00, followed by $2,627.99 and $2,614.89, providing strong safety nets for potential corrections.

The 50-day EMA at $2,657.96 underscores short-term support, confirming that the broader trend remains upward. However, gold's momentum is tempered by the Federal Reserve's hawkish policy outlook and steady U.S. bond yields, which cap significant price gains.

A sustained break above $2,696.72 could pave the way for higher levels, while a drop below $2,687.13 may trigger selling pressure, potentially testing lower supports.

The Relative Strength Index (RSI) signals neutral territory, suggesting limited immediate momentum but scope for a directional breakout. Traders should monitor the $2,687.13 pivot closely; holding above it supports bullish continuation, while a breach could indicate bearish pressure.

GOLD (XAU/USD) - Trade Ideas

Entry Price – Buy Above 2663

Take Profit – 2687

Stop Loss – 2650

Risk to Reward – 1: 1.8

Profit & Loss Per Standard Lot = +$2400/ -$1300

Profit & Loss Per Mini Lot = +$240/ -$130