GOLD Price Analysis and Trade Forecast: Daily Trading Signal

Daily Price Outlook

- Gold holds above the 50-day EMA at $2,683.19, maintaining a bullish bias.

- Resistance at $2,736.52 is crucial; a breakout could target $2,752.21.

- A break below $2,695 may prompt further downside toward $2,676.58 support.

Gold (XAU/USD) is currently trading at $2,707.70, up 0.18%, as the market consolidates above the key support zone.

The metal faces immediate resistance at $2,736.52, with further barriers at $2,752.21. On the downside, support is seen at $2,676.58, followed by stronger levels at $2,659.46 and $2,641.38, which could provide a safety net against potential declines.

The 50-day Exponential Moving Average (EMA) stands at $2,683.19, reinforcing a bullish bias as long as prices remain above this level.

The pivot point at $2,722.01 remains a critical juncture; a sustained move above it could pave the way for further gains, while failure to hold this level may lead to increased selling pressure.

Technical indicators suggest that gold is maintaining an upward trajectory, with buyers likely to step in on dips. However, the market remains sensitive to macroeconomic factors, including interest rate expectations and geopolitical developments, which could introduce volatility.

A break above $2,736.52 would confirm bullish momentum, targeting $2,752.21 in the short term. Conversely, a drop below the $2,695 entry level may trigger a retest of key support areas.

Traders should closely watch for a breakout above resistance levels, while maintaining caution around the $2,676.58 support, as a breach could signal a shift in sentiment.

GOLD (XAU/USD) - Trade Ideas

Entry Price – Buy Above 2695

Take Profit – 2722

Stop Loss – 2680

Risk to Reward – 1: 1.8

Profit & Loss Per Standard Lot = +$2700/ -$1500

Profit & Loss Per Mini Lot = +$270/ -$150