GOLD Price Analysis and Trade Forecast: Daily Trading Signal

Daily Price Outlook

- Gold faces resistance at $2,768.80, with further upside capped at $2,783.31 and $2,797.39.

- Immediate support lies at $2,738.05; a break could push prices toward $2,721.88 and $2,703.20.

- A short-term bearish bias is expected below $2,752, with a downside target of $2,732 and a stop-loss at $2,765.

Gold prices are trading at $2,752.22, up 0.26%, as the market grapples with mixed signals amid evolving economic conditions. The metal hovers near the pivot point at $2,752.96, a crucial level that could dictate short-term price movements.

A sustained move below this level may reinforce bearish momentum, with immediate support at $2,738.05 and deeper levels at $2,721.88 and $2,703.20. A break below these supports could open the door for further downside, with sellers eyeing the 50-day EMA at $2,715.81 as a potential downside target.

On the upside, resistance is seen at $2,768.80, followed by key levels at $2,783.31 and $2,797.39. A break above $2,768.80 could trigger further buying interest, potentially challenging the $2,783.31 resistance, which aligns with recent highs. However, for now, the bullish momentum remains constrained by the technical landscape.

From a technical perspective, gold is trading within a narrow range, with the 50-day EMA acting as dynamic support. The market remains cautious, with traders weighing the impact of inflation data and central bank policies.

The outlook suggests a cautious stance, with potential selling pressure intensifying below $2,752, targeting $2,732, with a stop-loss set at $2,765 to manage risk effectively.

GOLD (XAU/USD) - Trade Ideas

Entry Price – Sell Below 2752

Take Profit – 2732

Stop Loss – 2765

Risk to Reward – 1: 1.5

Profit & Loss Per Standard Lot = +$2000/ -$1300

Profit & Loss Per Mini Lot = +$200/ -$130