GOLD Price Analysis and Trade Forecast: Daily Trading Signal

Daily Price Outlook

- Gold holds above the key $3,111 pivot, sustaining bullish bias.

- RSI recovery signals potential for a continuation move.

- Buy setup confirmed above $3,111 with target at $3,144.

Gold (XAU/USD) is maintaining its broader uptrend, holding within a well-defined ascending channel. After a brief correction that saw prices dip to an intraday low of $3,112.21, the metal has rebounded and is currently trading near $3,125.00.

The bullish structure remains intact as long as gold sustains above the 50-period EMA at $3,097.88. The recent pullback found support just above the $3,100.00 handle—a level that aligns with both the lower band of the channel and the 23.6% Fibonacci retracement from the late-March rally.

The pivot point sits at $3,112.21, a critical zone where buyers have returned repeatedly. Immediate resistance is seen at $3,144.00, followed by a stronger ceiling at $3,148.62.

A breakout above this area could open the path toward the next resistance at $3,165.66. On the downside, key support rests at $3,100.07, with additional cushions forming at $3,094.00 and $3,079.05.

The Relative Strength Index (RSI) is currently at 55.86, recovering from oversold territory and suggesting renewed bullish momentum, although not yet signaling overbought conditions.

The 50 EMA at $3,097.88 is sloping upward, reinforcing the short-term bullish bias, while price action remains comfortably above the psychological support at $3,100.

As long as XAU/USD holds above $3,111.00, the risk remains tilted to the upside. Traders may consider long positions above this level with a target at $3,144.00 and a protective stop at $3,094.00. Failure to hold above $3,100.00, however, could trigger a broader correction.

GOLD (XAU/USD) - Trade Ideas

Entry Price – Buy Above 3111

Take Profit – 3144

Stop Loss – 3094

Risk to Reward – 1: 1.9

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

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