GOLD Price Analysis and Trade Forecast: Daily Trading Signal

Daily Price Outlook

- Critical Pivot: Gold remains below $2,633.90; a breakout above $2,636.56 is needed to regain bullish momentum.

- Resistance Levels: Immediate resistance at $2,646.32, reinforced by the 50-day EMA at $2,653.22.

- Support Levels: Key support at $2,625.31; break below $2,615 may trigger deeper declines to $2,590.

Gold (XAU/USD) is trading at $2,632.48, down 0.14%, as bearish momentum continues to weigh on prices below the $2,633.90 pivot point. The 4-hour chart indicates a cautious market, with immediate resistance at $2,646.32, followed by $2,655.97.

The 50-day EMA at $2,653.22 reinforces this resistance zone, making it a critical barrier for any recovery. A breakout above these levels could pave the way toward bullish momentum, targeting $2,663 and beyond.

On the downside, immediate support is observed at $2,625.31, with further declines pointing to $2,590.17 and $2,576.56. The RSI at 45 reflects mild bearish sentiment, though it has yet to reach oversold conditions, leaving room for further downside pressure.

The current setup suggests that gold’s near-term trajectory hinges on a decisive move above $2,636.56 or below $2,624. A break above the pivot could trigger buying momentum, targeting $2,653, while a sustained drop below $2,615 would likely accelerate selling pressure.

Traders should monitor these key levels closely. The recommended strategy includes buying above $2,624 with a take-profit target at $2,653 and a stop-loss at $2,615 to manage downside risks effectively.

GOLD (XAU/USD) - Trade Ideas

Entry Price – Buy Above 2624

Take Profit – 2653

Stop Loss – 2615

Risk to Reward – 1: 1.6

Profit & Loss Per Standard Lot = +$527/ -$316

Profit & Loss Per Mini Lot = +$52/ -$31