GOLD Price Analysis and Trade Forecast: Daily Trading Signal

Daily Price Outlook

- Gold stalls near $3,219 Fibonacci resistance as RSI signals overbought.

- Short-term correction likely if $3,219 fails to break cleanly.

- Break below $3,160 may trigger drop toward $3,095.

Gold (XAU/USD) continues to climb, extending its rally to a session high of $3,213.16 before cooling slightly to $3,208.71. Price action is pushing against a significant resistance zone at $3,219, which aligns with a key Fibonacci retracement level.

While momentum remains bullish, traders should be cautious of a short-term pullback as the RSI at 74.14 signals overbought conditions and a potential bearish divergence.

The metal is trading well above its 50-period EMA at $3,065.10, reinforcing the strength of the uptrend. However, a rejection near the $3,219 resistance could trigger a corrective move. The key pivot support sits at $3,160, a level that previously acted as both resistance and now flipped to potential support.

Immediate resistance is marked at $3,219, with higher targets at $3,252 and $3,338 should bullish momentum continue. On the downside, a break below $3,160 could open the door toward $3,124 and further to $3,095.

Given the strong advance, traders may look for a reversal pattern near $3,219 for a potential short entry. A break below the $3,160 pivot would confirm near-term bearish pressure and shift sentiment toward consolidation.

GOLD (XAU/USD) - Trade Ideas

Entry Price – Sell Below 3219

Take Profit – 3160

Stop Loss – 3252

Risk to Reward – 1: 1.7

Profit & Loss Per Standard Lot = +$5900/ -$3300

Profit & Loss Per Mini Lot = +$590/ -$330