GOLD Price Analysis and Trade Forecast: Daily Trading Signal

Daily Price Outlook

- Gold finds support at $2,990; bullish reversal in play.

- Resistance at $3,057 aligns with 50 EMA; breakout needed for upside momentum.

- RSI recovery supports short-term bounce, but bias stays cautious below $3,075.

Gold prices are showing early signs of recovery, trading around $3,023 after finding firm support near the $2,990 region. This level has now been tested multiple times, reinforcing its role as a key pivot.

Buyers have defended this support well, with prices rebounding toward $3,040. Still, the metal remains capped below the 50 EMA, which currently sits at $3,075—a zone that also aligns with horizontal resistance near $3,057.

If gold breaks above this resistance area, the next upside targets are $3,084 and $3,152. Meanwhile, on the downside, $2,990 remains critical. A sustained move below this would expose $2,953 and potentially $2,932 as next supports. The 50-period EMA at $3,075 continues to serve as a dynamic ceiling, suggesting any breakout needs to be confirmed by a close above this zone.

The Relative Strength Index (RSI) is currently at 48, slightly recovering from oversold conditions, and pointing higher—indicating that buyers may be regaining control in the short term. However, the broader trend remains vulnerable until the price decisively reclaims the $3,075 handle.

From a risk-reward standpoint, traders may consider a long position above $2,990, targeting a break toward $3,057, with a protective stop near $2,953. This setup aligns with trendline support and early bullish momentum.

GOLD (XAU/USD) - Trade Ideas

Entry Price – Buy Above 2990

Take Profit – 3057

Stop Loss – 2953

Risk to Reward – 1: 1.8

Profit & Loss Per Standard Lot = +$6700/ -$3700

Profit & Loss Per Mini Lot = +$670/ -$370