GOLD Price Analysis and Trade Forecast: Daily Trading Signal

Daily Price Outlook

- Bullish bias remains intact above $3,007, with $3,019.58 acting as key resistance.

- A break above $3,019 could push gold toward $3,028.31 and $3,036.90 in the short term.

- Support at $2,996.48 remains crucial—falling below it could trigger a retracement toward $2,986.84 and $2,976.53.

Gold (XAU/USD) is trading at $3,013.33, maintaining a steady uptrend after a slight 0.01% gain in early trading. The metal is consolidating above its pivot point at $3,007.95, reinforcing a bullish bias as long as this level holds. The 50-day EMA at $2,971.31 continues to act as a strong support zone, preventing deeper pullbacks.

On the upside, immediate resistance at $3,019.58 remains a key hurdle for buyers. A break above this level could trigger further gains, with the next resistance at $3,028.31, followed by $3,036.90. If bullish momentum strengthens, a push toward the $3,050 zone is possible in the near term.

Conversely, support at $2,996.48 serves as the first safety net for gold. A drop below this level may expose $2,986.84, with deeper support resting at $2,976.53. A failure to hold these levels could shift sentiment toward a bearish correction.

Gold's price action suggests that traders are awaiting stronger catalysts, such as economic data or central bank policy signals, to drive momentum. For now, the upward trend remains intact, and a break above $3,019 could fuel further buying interest. However, a drop below $2,996 may invite selling pressure.

GOLD (XAU/USD) - Trade Ideas

Entry Price – Buy Above 3007

Take Profit – 3025

Stop Loss – 2996

Risk to Reward – 1: 1.6

Profit & Loss Per Standard Lot = +$1800/ -$1100

Profit & Loss Per Mini Lot = +$180/ -$110