GOLD Price Analysis and Trade Forecast: Daily Trading Signal

Daily Price Outlook

- Gold trades below $2,898.48 pivot; bearish bias prevails.

- Immediate resistance at $2,943.27, with a breakout needed for further gains.

- Support at $2,862.33—break below could extend losses to $2,833.82.

Gold (XAU/USD) is experiencing downward pressure, trading at $2,886.14, slipping 0.01% as the stronger U.S. dollar and hawkish Federal Reserve outlook weigh on sentiment. The metal remains below its pivot point at $2,898.48, signaling a potential continuation of bearish momentum.

On the technical front, the 50-day EMA at $2,854.23 is acting as a key support level, while immediate resistance stands at $2,943.27. A break above this level could trigger further upside towards $2,966.54, with an extended rally possible up to $2,990.75. However, the current structure suggests a lower probability of a breakout as long as the dollar remains strong.

Downside risks persist, with $2,862.33 serving as immediate support. A break below this level could accelerate selling pressure, exposing $2,833.82 and potentially deeper support at $2,806.78. Given the setup, traders may consider short positions below $2,898, targeting $2,862, with a stop loss at $2,920 to manage risk.

Gold’s near-term trend will likely be dictated by upcoming U.S. economic data, particularly inflation figures and any shifts in Federal Reserve rate expectations. If inflation softens, gold could regain ground; however, persistently high inflation may reinforce the dollar’s strength, limiting gold’s upside potential.

GOLD (XAU/USD) - Trade Ideas

Entry Price – Sell Below 2898

Take Profit – 2862

Stop Loss – 2920

Risk to Reward – 1:1.6

Profit & Loss Per Standard Lot = +$3600/ -$2200

Profit & Loss Per Mini Lot = +$360/ -$220