GOLD Price Analysis and Trade Forecast: Daily Trading Signal

Daily Price Outlook

- Key Resistance: $2,943; Breakout could push gold toward $2,959.

- Key Support: $2,898; A drop below may trigger increased selling.

- Outlook: Bullish above $2,923, with profit target set at $2,942.

Gold (XAU/USD) is trading at $2,932.09, up 0.01% as it maintains its bullish momentum amid persistent inflation concerns and ongoing tariff-related market anxiety.

The metal remains supported above its pivot point of $2,923.29, indicating continued investor interest in safe-haven assets.

Technically, gold is trading comfortably above the 50-day EMA, which sits at $2,907.75. This suggests the bullish trend remains intact, with the next immediate resistance at $2,943.27.

A break above this level could propel gold toward $2,959.89 and potentially $2,975.66 if the upward momentum strengthens.

On the downside, immediate support lies at $2,898.08, followed by $2,879.70 and $2,864.94. A dip below the $2,898 level might trigger profit-taking and shift sentiment to the downside.

The Relative Strength Index (RSI) remains near neutral, signaling balanced market sentiment with room for potential upside if buying pressure increases.

Fundamentally, gold continues to benefit from a weaker U.S. dollar and elevated inflation figures, as the latest PPI data showed a 3.5% year-over-year rise, exceeding market expectations.

The Federal Reserve's cautious approach toward rate cuts further supports gold’s appeal, particularly as uncertainty surrounding new tariff measures persists.

GOLD (XAU/USD) - Trade Ideas

Entry Price – Buy Above 2923

Take Profit – 2942

Stop Loss – 2904

Risk to Reward – 1:1

Profit & Loss Per Standard Lot = +$1900/ -$1900

Profit & Loss Per Mini Lot = +$190/ -$190