GOLD Price Analysis and Trade Forecast: Daily Trading Signal

Daily Price Outlook

- Gold attempting to stabilize above $2,990 after a recent correction.

- Resistance at $3,034 is critical for further upside confirmation.

- A break below $2,990 could invite another retest of $2,953.

Gold is attempting a recovery, trading at $3,012.81 after finding short-term support just above the $2,990 level. The rebound follows a steep sell-off that pulled the metal from $3,152 highs into the $2,953–$2,989 range, where buyers stepped in.

Price has now reclaimed the $2,990 pivot, flipping near-term bias back toward a cautious bullish stance. With the $3,034 resistance now in focus, a sustained push through this level could invite fresh momentum toward $3,084 and potentially $3,152.

The RSI has edged up to 45.69, reflecting improved, but not yet strong, upside momentum. Price remains below the 50-period SMA at $3,071, suggesting the broader trend remains technically challenged. Traders should monitor whether gold can maintain intraday strength above $2,990. A break back below this key level would open downside exposure toward $2,953 and possibly $2,932.

Until price convincingly clears the $3,034–$3,071 resistance zone, upside should be treated with tactical caution. Momentum remains reactive to news flow, and traders may prefer confirmation via volume or breakout candles above $3,034 before adding new positions.

GOLD (XAU/USD) - Trade Ideas

Entry Price – Buy Above 2990

Take Profit – 3034

Stop Loss – 2953

Risk to Reward – 1: 1.9

Profit & Loss Per Standard Lot = +$4400/ -$3700

Profit & Loss Per Mini Lot = +$440/ -$370