GOLD Price Analysis and Trade Forecast: Daily Trading Signal

Daily Price Outlook

- Resistance at $2,935.54 – A breakout could push gold toward $2,954.97 and $2,970.84.

- Support at $2,853.43 – A drop below this level may trigger further declines toward $2,834.27.

- Buy above $2,887 – Targeting $2,920 with a stop loss at $2,872 for short-term positioning.

Gold (XAU/USD) is consolidating around $2,900, struggling to gain momentum as it trades near its key pivot point at $2,919.39.

The metal’s short-term price action remains uncertain, with traders eyeing crucial resistance and support levels. A break above $2,935.54 could trigger fresh buying interest, potentially pushing prices toward the next resistance levels at $2,954.97 and $2,970.84.

On the downside, immediate support is seen at $2,853.43. If gold breaches this level, further declines toward $2,834.27 and $2,811.56 may follow. The 50-day EMA at $2,906.38 is acting as dynamic support, keeping gold within a tight range.

The 4-hour chart suggests gold remains in a consolidation phase, with buyers defending the $2,887 level while sellers cap gains near $2,920. The market's next major move hinges on whether gold can break out of this tight range. A buy entry above $2,887 with a target of $2,920 and a stop loss at $2,872 could provide a strategic trade setup.

Gold’s technical outlook remains bullish above $2,887, but failure to hold support could accelerate selling pressure.

GOLD (XAU/USD) - Trade Ideas

Entry Price – Buy Above 2887

Take Profit – 2920

Stop Loss – 2872

Risk to Reward – 1: 2.2

Profit & Loss Per Standard Lot = +$3300/ -$1500

Profit & Loss Per Mini Lot = +$330/ -$150