GOLD Price Analysis and Trade Forecast: Daily Trading Signal

Daily Price Outlook

- Bullish Bias Holds: Gold sustains breakout above $3,168 pivot; eyes $3,255–$3,298 Fibonacci targets.

- Momentum Backed by SMA: 50-SMA at $3,167 continues to offer solid dynamic support.

- RSI Neutral-Bullish: RSI at 61 suggests further room for upside without immediate overbought risk.

Gold prices are exhibiting strong bullish momentum after decisively breaking above the $3,168 Fibonacci pivot level, retracing fully from the April 4 dip near $2,956.

The recent breakout above the 1.0 Fibonacci level at $3,168 has been sustained, with prices consolidating in a tight range just below the $3,255 resistance — the 1.414 Fib extension level. This signals a potential continuation toward the 1.618 extension at $3,298, provided the bullish structure remains intact.

Technically, gold remains supported by the upward sloping 50-period SMA, currently at $3,167. This moving average has acted as a dynamic support since the April rebound began, reflecting the persistent demand for the metal amid geopolitical and inflationary concerns.

Meanwhile, the Relative Strength Index (RSI) is hovering near 61, indicating that while bullish momentum is present, the market is not yet in overbought territory, offering room for further upside.

Immediate support is now observed at $3,206 — aligning with recent consolidation lows — followed by stronger buying interest expected near the $3,168 and $3,123 retracement zones. As long as gold holds above the $3,167 stop-loss threshold, the bullish thesis remains valid.

A breakout above $3,255 could trigger momentum toward the $3,283 and $3,298 resistances, with potential for a further extension to $3,338 should bullish sentiment intensify. However, failure to hold above $3,206 would expose gold to a pullback toward the $3,167-$3,123 support cluster.

GOLD (XAU/USD) - Trade Ideas

Entry Price – Buy Above 3206

Take Profit – 3283

Stop Loss – 3167

Risk to Reward – 1: 1.9

Profit & Loss Per Standard Lot = +$7700/ -$3900

Profit & Loss Per Mini Lot = +$770/ -$390