GOLD Price Analysis and Trade Forecast: Daily Trading Signal

Daily Price Outlook

- Gold remains bullish above $3,044, with upside targets at $3,068 and $3,078.

- The 50-day EMA at $3,016 acts as a strong support level, reinforcing the uptrend.

- A break below $3,033 could trigger selling pressure, with key support at $3,010.

Gold (XAU/USD) is trading slightly lower at $3,043, down 0.04%, as it consolidates near a key pivot level of $3,044.55. Despite the modest decline, the broader trend remains bullish, supported by expectations of Federal Reserve rate cuts and persistent global economic uncertainties.

The 50-day Exponential Moving Average (EMA) at $3,016 provides strong near-term support, keeping gold within an upward channel.

If prices sustain above the pivot point, the next resistance levels to watch are $3,057.40, followed by $3,067.87 and $3,078.95. A break above these levels could signal renewed bullish momentum, with gold eyeing further highs.

On the downside, immediate support lies at $3,033.30, with a break below this level exposing the next key supports at $3,023.07 and $3,010.48. A move below the 200-day EMA at $2,980 would indicate a shift in sentiment, potentially triggering profit-taking.

For now, gold remains bullish above $3,044, with traders eyeing a breakout toward $3,068. A stop-loss below $3,033 is recommended to mitigate downside risks.

GOLD (XAU/USD) - Trade Ideas

Entry Price – Buy Above 3044

Take Profit – 3068

Stop Loss – 3033

Risk to Reward – 1: 2

Profit & Loss Per Standard Lot = +$2400/ -$1100

Profit & Loss Per Mini Lot = +$240/ -$110