GOLD Price Analysis and Trade Forecast: Daily Trading Signal

Daily Price Outlook

- Gold finds support above $3,090, holding within a rising channel.

- A break above $3,123 may target $3,148 and $3,167 resistance.

- Momentum remains cautious; watch RSI and 50 EMA for confirmation.

Gold continues to trade within a rising channel, showing signs of stabilization after recent volatility. The current price of $3,103.86 reflects a modest rebound from a key intraday low, finding support just above the pivot point at $3,090. With price now holding slightly above that level, bulls are attempting to reclaim control, though momentum remains cautious.

Immediate resistance is seen at $3,123, a level that aligns closely with the 50-period EMA at $3,121.96. A decisive break above this zone would expose $3,148 and $3,167, areas that previously capped upward movement. On the downside, $3,087 and $3,066 represent the next supports, with a sharper decline potentially targeting the channel's lower trendline near $3,054.

The RSI is currently at 45.80, suggesting neutral momentum after a pullback from overbought territory. This aligns with the recent correction, though the broader structure remains bullish as long as gold holds above the trendline and $3,066 support.

Technically, a buy signal is favored above $3,090, with a suggested take-profit at $3,123 and a protective stop-loss at $3,066. A close above the $3,123 resistance would likely validate a continuation toward the $3,148–$3,167 zone. Until then, traders should watch for price action clarity near the 50 EMA to confirm trend strength.

GOLD (XAU/USD) - Trade Ideas

Entry Price – Buy Above 3090

Take Profit – 3123

Stop Loss – 3066

Risk to Reward – 1: 1.3

Profit & Loss Per Standard Lot = +$3300/ -$2400

Profit & Loss Per Mini Lot = +$330/ -$240