GOLD Price Analysis and Trade Forecast: Daily Trading Signal

Daily Price Outlook

- Gold rejected at broken trendline near $3,046

- 50 EMA acting as firm resistance at $3,101

- Bearish momentum may resume below $3,013

Gold prices are under pressure following a decisive breakdown below both the ascending trendline and the $3,046 horizontal support, which previously acted as a pivot area for bulls. After slipping as low as $3,003, buyers briefly stepped in near the 200-period EMA, but the rebound lacked conviction.

Price is currently pinned under the $3,046 resistance zone and struggling to reclaim ground above $3,062. This resistance band, once supportive, now acts as a ceiling for any meaningful recovery. The technical landscape has turned bearish unless gold reclaims and closes above the $3,062 level.

The broader market structure also reflects caution, as the 50 EMA at $3,101.72 is now sloping downward, providing additional headwind. Meanwhile, the RSI sits at 39.81, suggesting bearish momentum is in play but not yet stretched enough to imply oversold conditions.

A break below the $3,013 handle would signal renewed selling pressure, opening the path toward the psychological support at $3,000 and possibly extending to $2,970, the next major horizontal demand zone.

Bulls would need to regain control above $3,062 to neutralize the bearish bias and make a case for a push toward the 50 EMA and $3,087. Until that happens, any upside moves are likely to be viewed as relief rallies rather than the start of a sustained uptrend.

GOLD (XAU/USD) - Trade Ideas

Entry Price – Sell Below 3046

Take Profit – 3013

Stop Loss – 3062

Risk to Reward – 1: 1.3

Profit & Loss Per Standard Lot = +$3300/ -$1600

Profit & Loss Per Mini Lot = +$330/ -$160