GOLD Price Analysis and Trade Forecast: Daily Trading Signal
Daily Price Outlook
- Price Recovery: Gold rebounds from $3,283 support, testing breakout above $3,317.
- Fibonacci Confluence: Key support between $3,274 and $3,254 continues to hold.
- Momentum Rebounds: RSI climbs to 60.62, signaling improved short-term bullish sentiment.
Gold prices are recovering after finding support near the $3,283 level and are now attempting to reclaim ground above $3,317.
This recovery comes after a volatile session that saw a sharp dip followed by an equally strong rebound. Price action now sits just below the $3,355 resistance zone, where sellers previously rejected upside attempts.
From a technical standpoint, the 50-period Simple Moving Average (SMA), currently at $3,265, remains upward sloping and continues to offer medium-term support.
Fibonacci retracement levels show a confluence of potential demand zones between $3,274 (50%) and $3,254 (61.8%), reinforcing the validity of the recent rebound.
Momentum is also firming up. The Relative Strength Index (RSI) has recovered from below 50 and now prints at 60.62, suggesting buyers are regaining control. If the price holds above $3,317, the next target comes in at $3,369 — a key Fibonacci extension level. A breakout beyond that could re-expose the recent high of $3,379.
On the downside, a drop below $3,283 would challenge the bullish structure and expose the $3,274–$3,254 range as the next area of interest for buyers.
GOLD (XAU/USD) - Trade Ideas
Entry Price – Buy Above 3317
Take Profit – 3369
Stop Loss – 3283
Risk to Reward – 1: 1.5
Profit & Loss Per Standard Lot = +$5200/ -$3400
Profit & Loss Per Mini Lot = +$520/ -$340
GOLD Price Analysis – April 18, 2025
Daily Price Outlook
Gold prices (XAU/USD) have remained steady at $3,327 as of Friday, following a retreat from an all-time high of $3,358. The market has seen some profit-taking as investors headed into a long Easter weekend, but the yellow metal continues to hold its ground amid rising global uncertainties.
The combination of geopolitical tensions and the Federal Reserve’s hawkish stance is playing a crucial role in maintaining gold’s current price levels.
Geopolitical Tensions and Safe-Haven Demand Support Gold
Gold has traditionally been considered a safe-haven asset, and with ongoing global tensions, it has once again become a popular choice for investors. Uncertainty surrounding US President Donald Trump's tariffs on imports and the potential for further escalation in geopolitical conflicts have driven demand for gold.
As trade tensions simmer and recession fears mount, investors are increasingly looking to safeguard their portfolios, ensuring continued support for the precious metal.
Lukman Otunuga, a senior research analyst at FXTM, highlighted that gold remains heavily supported by "a broadly weaker dollar, uncertainty around tariff announcements, and fears about a global recession."
These factors provide a solid foundation for gold’s steady performance, despite the lack of significant price momentum.
Federal Reserve’s Hawkish Stance Weighs on Gold Price
On the other side of the equation, the Federal Reserve’s recent hawkish tone is creating headwinds for gold. Federal Reserve Chair Jerome Powell’s remarks reduced the likelihood of an interest rate cut in June, which has lifted the US Dollar and, in turn, applied pressure on gold.
Powell noted that the US economy’s weaknesses and the persistence of high inflation could lead to stagflationary concerns, increasing the complexity of the Fed’s policy decisions.
The market had initially priced in expectations of rate cuts, but Powell’s comments have cast doubt on this, as the likelihood of a rate cut in the near term diminishes. This shift in sentiment is likely to impact gold’s price trajectory as the stronger dollar makes gold more expensive for international buyers.
US Economic Data Shows Mixed Signals
Recent US economic data also adds to the uncertainty. Initial Jobless Claims for the week ending April 12 dropped to 215K, lower than expectations and the previous week's figure of 224K, signaling strength in the labor market.
However, Continuing Jobless Claims rose by 41K to 1.885 million, suggesting some underlying weakness. Meanwhile, US Building Permits increased by 1.6% to 1.482 million in March, exceeding expectations, although Housing Starts saw a decline.
Despite mixed economic signals, money market traders are pricing in nearly 86 basis points of Fed rate cuts by the end of 2025, with the first cut expected in July, according to the CME FedWatch tool.
This pricing suggests that markets are still factoring in the possibility of a rate-cutting cycle in the medium term, which could offer some support for gold.
Looking forward, the geopolitical landscape, along with the Fed’s future actions, will likely remain key drivers of gold’s price. The ongoing tariff-related uncertainties and global recession fears continue to provide a robust safe-haven demand for gold.
At the same time, the Fed's hawkish tone could limit significant upside potential, especially if economic data continues to improve and rate cut expectations are pushed further out.
GOLD (XAU/USD) – Technical Analysis
Gold prices are recovering after finding support near the $3,283 level and are now attempting to reclaim ground above $3,317.
This recovery comes after a volatile session that saw a sharp dip followed by an equally strong rebound. Price action now sits just below the $3,355 resistance zone, where sellers previously rejected upside attempts.
From a technical standpoint, the 50-period Simple Moving Average (SMA), currently at $3,265, remains upward sloping and continues to offer medium-term support.
Fibonacci retracement levels show a confluence of potential demand zones between $3,274 (50%) and $3,254 (61.8%), reinforcing the validity of the recent rebound.
Momentum is also firming up. The Relative Strength Index (RSI) has recovered from below 50 and now prints at 60.62, suggesting buyers are regaining control. If the price holds above $3,317, the next target comes in at $3,369 — a key Fibonacci extension level. A breakout beyond that could re-expose the recent high of $3,379.
On the downside, a drop below $3,283 would challenge the bullish structure and expose the $3,274–$3,254 range as the next area of interest for buyers.
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GOLD Price Analysis and Trade Forecast: Daily Trading Signal
Daily Price Outlook
- Momentum Slows: Price rejected at $3,355 with RSI rolling off overbought levels.
- Fibonacci Supports in Focus: $3,294 and $3,274 are likely downside checkpoints.
- SMA Support Nearby: The 50-period SMA at $3,251 may offer rebound potential if tested.
Gold is showing early signs of a short-term correction after reaching a high of $3,355. Price has since pulled back below the $3,344 resistance area, suggesting a potential shift in momentum.
The move coincides with a retreat from overbought RSI conditions and a rejection at the 0.0 Fibonacci extension level ($3,355), drawn from the March low of $3,192. The market has now slipped below the 0.236 retracement ($3,316), a level that may act as an early trigger for further downside.
Technical structure indicates a possible correction toward the $3,294 region, which aligns with the 0.382 Fibonacci retracement. Should bearish momentum accelerate, further declines toward $3,274 and $3,254 may unfold.
These areas are clustered with deeper retracement levels and near the rising 50-period SMA, currently at $3,251 — a zone likely to attract buyers if tested.
Meanwhile, the Relative Strength Index (RSI) has dropped from over 82 to 71.6, cooling from overbought levels but still above neutral. This supports the case for a continued retracement before a potential re-entry by trend-followers. As long as gold remains below $3,344, near-term risks lean toward a corrective phase.
A break back above $3,344 would weaken the bearish outlook and re-expose the $3,355–$3,375 resistance zone.
GOLD (XAU/USD) - Trade Ideas
Entry Price – Sell Below 3344
Take Profit – 3294
Stop Loss – 3375
Risk to Reward – 1: 1.6
Profit & Loss Per Standard Lot = +$5000/ -$3100
Profit & Loss Per Mini Lot = +$500/ -$310
GOLD Price Analysis – April 17, 2025
Daily Price Outlook
Gold prices (XAU/USD) remained under pressure around 3,323 level, struggling to stay above its fresh all-time high reached earlier this week. During the first half of the European trading session, gold dipped to a daily low around the $3,313 mark as optimism around US trade negotiations and hawkish remarks from the Federal Reserve (Fed) Chair Jerome Powell prompted profit-taking among traders.
Gold’s Struggles Amid US Economic Data and Fed's Hawkish Outlook
On the US front, the broad-based US dollar found some support following a positive Retail Sales report from the US Census Bureau, showing a 1.4% increase in March—marking the biggest jump in over two years. This followed a revised 0.2% increase in February, outpacing market expectations of a 1.3% rise.
Another factor boosting the dollar is Jerome Powell's comment that the Fed won’t cut interest rates soon because of inflation worries caused by Trump’s tariffs. This made investors less interested in buying gold.
Meanwhile, strong US economic data raised expectations that the Fed will keep interest rates unchanged, making gold less attractive. Moving on, traders keep their eyes on upcoming data like jobless claims and the Philly Fed Manufacturing Index.
US-China Trade Tensions Boost Gold Prices Amid Economic Uncertainty
Despite the upbeat US economic data, the rapidly escalating trade tensions between the US and China continue to provide support for gold prices.
President Trump’s decision to impose tariffs on Chinese goods has sparked retaliatory actions from China, including new export restrictions on rare earth metals and artificial intelligence chips. These tit-for-tat tariffs heighten global recession fears, which benefits gold as a safe-haven asset.
Therefore, the uncertainty surrounding President Trump’s tariff policies and the US-China trade war has kept markets on edge, providing a tailwind for gold.
Gold Price Struggles Amid Hawkish Fed Outlook and USD Recovery
Looking ahead, gold prices remain cautious as traders are concerned about the possibility of future interest rate hikes by the Federal Reserve.
Although the market still expects that the Fed might cut rates later this year, recent comments from Fed Chair Jerome Powell suggest a more cautious or "hawkish" approach for now. This, along with the US dollar’s recent recovery, is preventing gold from making strong gains.
Traders are now waiting for upcoming US economic data and further comments from the Fed, which could create short-term chances to adjust their trading strategies.
Despite the current pressure on gold, it continues to hold some value due to its reputation as a safe-haven asset. In times of global economic uncertainty and ongoing trade tensions, many investors still see gold as a reliable option for protecting their wealth.
GOLD (XAU/USD) – Technical Analysis
Gold is showing early signs of a short-term correction after reaching a high of $3,355. Price has since pulled back below the $3,344 resistance area, suggesting a potential shift in momentum.
The move coincides with a retreat from overbought RSI conditions and a rejection at the 0.0 Fibonacci extension level ($3,355), drawn from the March low of $3,192. The market has now slipped below the 0.236 retracement ($3,316), a level that may act as an early trigger for further downside.
Technical structure indicates a possible correction toward the $3,294 region, which aligns with the 0.382 Fibonacci retracement. Should bearish momentum accelerate, further declines toward $3,274 and $3,254 may unfold.
These areas are clustered with deeper retracement levels and near the rising 50-period SMA, currently at $3,251 — a zone likely to attract buyers if tested.
Meanwhile, the Relative Strength Index (RSI) has dropped from over 82 to 71.6, cooling from overbought levels but still above neutral. This supports the case for a continued retracement before a potential re-entry by trend-followers. As long as gold remains below $3,344, near-term risks lean toward a corrective phase.
A break back above $3,344 would weaken the bearish outlook and re-expose the $3,355–$3,375 resistance zone.
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GOLD Price Analysis – April 16, 2025
Daily Price Outlook
Gold (XAU/USD) surged to a fresh all-time high during the early European session on Wednesday, reaching above the $3,300 mark.
However, the metal remains well-supported by growing expectations of aggressive policy easing by the Federal Reserve (Fed) and renewed geopolitical risks, particularly from the intensifying US-China trade conflict.
Despite trimming some gains due to overbought technical conditions and profit-taking, the overall sentiment remains bullish for the safe-haven metal.
XAU/USD Rally Fueled by Fed Rate Cut Expectations and Weakening US Dollar
On the other side, the upward rally in gold prices continues to be driven by the market’s firm belief that the Fed will cut interest rates aggressively in 2025, possibly by as much as 100 basis points. This outlook has weakened the US Dollar, which slipped to its lowest level since April 2022 last week.
Hence, the softer greenback boosts demand for gold, as it becomes cheaper for foreign buyers. Investors are now closely watching Fed Chair Jerome Powell’s upcoming remarks, which may offer clearer guidance on the path of interest rates.
Moreover, market confidence in the US economy has been shaken by fears that steep tariffs could lead to a slowdown. This has further fueled speculation that the Fed will need to adopt a more dovish stance to support economic growth, adding upward pressure on gold prices.
US-China Trade War Escalation Lifts Safe-Haven Demand for Gold
Apart from this, the bullish momentum in gold has also been supported by escalating trade tensions between the United States and China.
President Donald Trump recently rolled back some tariff threats temporarily, removing electronics like smartphones and computers from the list.
However, he maintained a 145% tariff on various Chinese goods and announced future levies on semiconductors and pharmaceuticals, keeping uncertainty alive.
Meanwhile, China retaliated by raising tariffs on US imports to 125%, sparking renewed fears of a deepening trade war. This tit-for-tat escalation continues to erode investor confidence in global growth, increasing the appeal of safe-haven assets like gold.
Trump’s unpredictable tariff policy has further added to market anxiety, weighing heavily on the US economic outlook and supporting gold’s upward move.
GOLD (XAU/USD) – Technical Analysis
Gold continues to extend its upward move within a well-defined ascending channel, having broken through short-term resistance at $3,270. The metal is now approaching the next key level at $3,298, a zone that may attract profit-taking after a sharp rally from the $3,215 area earlier this week.
Price structure remains bullish, with higher highs and higher lows intact, and strong buying interest evident on each pullback.
The 50-period Simple Moving Average (SMA), currently at $3,229, supports the trend and confirms buyers remain in control. Price is trading well above this moving average, indicating a short-term overextension, which is also reflected in momentum indicators.
The Relative Strength Index (RSI) is now at 82, signaling overbought conditions — a possible precursor to a temporary pause or minor pullback. However, overbought signals alone are not enough to invalidate a bullish trend, especially in trending markets.
If momentum persists, a clean break above $3,298 could lead to a test of the $3,310 resistance zone, followed by $3,338 as the next upside target. On the other hand, any weakness below $3,270 could prompt a retest of the $3,250 support zone, with deeper downside levels emerging near the SMA around $3,229.
The current structure favors buying on dips as long as price remains above $3,250. Traders should monitor price behavior near resistance, particularly with momentum stretched.
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GOLD Price Analysis and Trade Forecast: Daily Trading Signal
Daily Price Outlook
- Trend Holds Firm: Price trades within an ascending channel, supported by the 50-SMA.
- Overbought Conditions: RSI at 82 warns of limited near-term upside without a pause.
- Watch $3,298: A breakout above this level could open the way to $3,310.
Gold continues to extend its upward move within a well-defined ascending channel, having broken through short-term resistance at $3,270. The metal is now approaching the next key level at $3,298, a zone that may attract profit-taking after a sharp rally from the $3,215 area earlier this week.
Price structure remains bullish, with higher highs and higher lows intact, and strong buying interest evident on each pullback.
The 50-period Simple Moving Average (SMA), currently at $3,229, supports the trend and confirms buyers remain in control. Price is trading well above this moving average, indicating a short-term overextension, which is also reflected in momentum indicators.
The Relative Strength Index (RSI) is now at 82, signaling overbought conditions — a possible precursor to a temporary pause or minor pullback. However, overbought signals alone are not enough to invalidate a bullish trend, especially in trending markets.
If momentum persists, a clean break above $3,298 could lead to a test of the $3,310 resistance zone, followed by $3,338 as the next upside target. On the other hand, any weakness below $3,270 could prompt a retest of the $3,250 support zone, with deeper downside levels emerging near the SMA around $3,229.
The current structure favors buying on dips as long as price remains above $3,250. Traders should monitor price behavior near resistance, particularly with momentum stretched.
GOLD (XAU/USD) - Trade Ideas
Entry Price – Buy Above 3270
Take Profit – 3310
Stop Loss – 3250
Risk to Reward – 1: 2
Profit & Loss Per Standard Lot = +$4000 -$2000
Profit & Loss Per Mini Lot = +$400/ -$200
GOLD Price Analysis – April 15, 2025
Daily Price Outlook
During the early European session on Tuesday, the Gold price (XAU/USD) maintains its firm tone around the $3,225 level, hovering just below the record high set the previous day.
However, the yellow metal continues to draw support from intensifying US-China trade tensions and increasing market speculation that the Federal Reserve will ease monetary policy further in 2025.
Although, the temporary tariff relief offered by the US has kept broader market sentiment steady, preventing aggressive bullish momentum in Gold.
Gold Supported by Escalating US-China Trade Tensions and Safe-Haven Demand
However, the bullish undertone in Gold remains intact as concerns deepen over the rapidly worsening US-China trade war. After President Trump increased tariffs on Chinese products to a record 145%, China responded by raising its own tariffs on US goods up to 125%.
These back-and-forth actions between the two largest economies have made investors nervous about a global economic slowdown. As a result, more people are turning to safe-haven assets like Gold, which has helped keep its price strong.
Despite the temporary exemptions on some electronic products and suggested he might ease tariffs on the auto industry, the overall situation is still uncertain.
He also warned that new tariffs on semiconductors and pharmaceuticals could be coming soon. Because of this ongoing tension between the US and China, investors remain cautious, and this continues to support Gold prices near their all-time highs.
Gold Gains from Fed Rate-Cut Bets and Weak US Dollar Sentiment
Gold also finds tailwinds from growing expectations of aggressive rate cuts by the Federal Reserve. Traders are now pricing in at least three rate cuts in 2025 as fears of a US recession rise.
The US Dollar remains on the back foot as investors bet that softer monetary policy will be required to cushion the economic blow from trade disruptions.
Recent comments from Fed Governor Christopher Waller, who warned that the tariff shock may force the Fed to act, and Atlanta Fed President Raphael Bostic, who noted inflation pressures remain due to tariffs, have reinforced dovish sentiment.
Market focus is now turning to Fed Chair Jerome Powell's speech on Wednesday for clearer policy guidance, which could further shape Gold’s next move.
Traders are watching Tuesday's Empire State Manufacturing Index and upcoming speeches from Fed officials to get a sense of short-term direction. The overall trend is still leaning upward, as concerns and expectations of rate cuts keep Gold in demand, especially with the weaker US dollar.
GOLD (XAU/USD) – Technical Analysis
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.
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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
GOLD Price Analysis – April 14, 2025
Daily Price Outlook
Gold (XAU/USD) prices experienced a mild retreat after reaching a fresh all-time high earlier this week, trading with a slight negative bias around the $3,220 level during the first half of the European session.
This pullback can be attributed to profit-taking, as markets adopt a more risk-on sentiment and global equity markets show strength.
Despite the dip, the broader market outlook suggests that strong downside remains unlikely, particularly as global uncertainties continue to underpin demand for the safe-haven asset.
Gold Price Supported by Escalating US-China Trade Tensions
However, the recent retreat in gold prices comes amid heightened risk sentiment, but any notable declines are expected to be limited. This is largely due to escalating US-China trade tensions, which are expected to continue to act as a tailwind for gold.
Last Friday, China increased tariffs on US imports to 125%, responding to President Donald Trump’s decision to raise tariffs on Chinese goods to 145%. These developments have sparked further fears of a slowdown in global economic growth, which could lift gold prices back to their all-time highs.
Investors are keenly watching these trade dynamics, as the continued friction between the world’s two largest economies presents a strong case for holding gold as a safe-haven asset.
Fed Rate Cut Expectations and Weak US Dollar Keep Gold Supported
Investor sentiment has also been influenced by expectations that the Federal Reserve will soon resume its rate-cutting cycle.
Meanwhile, the recent US economic data, including weaker-than-expected inflation figures, have fueled speculation that the Fed may lower borrowing costs at least three times this year.
The sharp decline in US Treasury yields and the continued weakness of the US Dollar, which is hovering near its lowest level since April 2022, have provided further support to gold.
This outlook for easing monetary policy comes amid concerns over a slowdown in the US economy due to tariff-driven disruptions.
Gold, being a non-yielding asset, benefits from a weaker dollar and lower interest rates, and these factors are likely to keep downward pressure on gold prices at bay.
On the data front, the latest US Consumer Price Index (CPI) report for March showed a 0.1% monthly decline and a decrease in the yearly inflation rate to 2.4%, further fueling expectations that the Fed may pivot towards more dovish monetary policies.
Inflation Concerns and Safe-Haven Demand Provide a Strong Floor for Gold
Another factor supporting gold's rise is the expectation that tariffs will cause higher inflation in the coming months. As a result, gold is seen as a safe bet against rising prices, which helps maintain strong demand for the metal.
With the market expecting the Fed to cut rates by 90 basis points by the end of 2025, gold is likely to keep appreciating in the near future.
This week, investors are paying close attention to statements from key Federal Reserve officials, including Fed Chair Jerome Powell on Wednesday, as these comments could shed light on future rate cuts.
Additionally, the US Retail Sales data, set for release later this week, could drive demand for the US Dollar and influence gold's price.
GOLD (XAU/USD) – Technical Analysis
Gold (XAU/USD) is extending its bullish momentum, currently hovering near the $3,232 level after decisively breaking past the $3,206 pivot. The uptrend remains firmly intact, supported by strong price action and a 50 SMA rising below current levels at $3,096.
The market is now testing resistance at $3,255.39, a key Fib extension level, with upside potential toward $3,298.43 if buyers maintain control.
However, RSI at 70.82 signals overbought conditions, suggesting the rally could stall or consolidate before pushing higher. If the price fails to clear $3,255, we could see a retest of $3,206 or deeper toward $3,167, which now serves as a key downside risk level.
Gold remains bullish above the $3,206 breakout point. A sustained close above this level keeps the upside bias toward $3,283 and $3,298, with caution warranted as RSI stretches into overbought territory.
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GOLD Price Analysis and Trade Forecast: Daily Trading Signal
Daily Price Outlook
- Gold tests $3,255 resistance after clean breakout above $3,206
- Overbought RSI may trigger short-term pause or consolidation
- Next upside targets lie at $3,283 and $3,298 if momentum holds
Gold (XAU/USD) is extending its bullish momentum, currently hovering near the $3,232 level after decisively breaking past the $3,206 pivot. The uptrend remains firmly intact, supported by strong price action and a 50 SMA rising below current levels at $3,096. The market is now testing resistance at $3,255.39, a key Fib extension level, with upside potential toward $3,298.43 if buyers maintain control.
However, RSI at 70.82 signals overbought conditions, suggesting the rally could stall or consolidate before pushing higher. If the price fails to clear $3,255, we could see a retest of $3,206 or deeper toward $3,167, which now serves as a key downside risk level.
Gold remains bullish above the $3,206 breakout point. A sustained close above this level keeps the upside bias toward $3,283 and $3,298, with caution warranted as RSI stretches into overbought territory.
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