GOLD Price Analysis and Trade Forecast: Daily Trading Signal

Daily Price Outlook

- Gold remains inside a strong ascending channel, with bullish bias intact above $3,127.

- RSI cooling from highs suggests consolidation, not reversal.

- A break above $3,148 may trigger upside toward $3,165 and $3,185.

Gold prices remain firmly bid, holding within a well-defined ascending channel that has underpinned the bullish trend since March 25.

The metal continues to find strong dip-buying interest, with the recent pullback stalling above the $3,127 pivot point—coinciding with the lower boundary of the bullish channel and offering technical validation for near-term support.

Despite a minor correction from intraday highs around $3,148, gold bulls appear to be defending the structure, and the broader uptrend remains intact barring a breakdown below $3,110.

The Relative Strength Index (RSI) has cooled to 58.93 from overbought territory, signaling a pause in momentum rather than a trend reversal.

Meanwhile, the 50-period SMA at $3,106.56 continues to track closely below price, reinforcing the strength of the underlying trend and providing dynamic support.

A confirmed move above $3,148 could open the door toward $3,165 and potentially challenge the $3,185 level, where previous supply zones could re-emerge.

Conversely, a break below $3,127 may signal further profit-taking, exposing $3,110 and $3,099 as next downside targets.

GOLD (XAU/USD) - Trade Ideas

Entry Price – Buy Above 3127

Take Profit – 3160

Stop Loss – 3110

Risk to Reward – 1: 1.9

Profit & Loss Per Standard Lot = +$3300/ -$1700

Profit & Loss Per Mini Lot = +$330/ -$170