GOLD Price Analysis and Trade Forecast: Daily Trading Signal

Daily Price Outlook

- Resistance Levels: Immediate at $2,669.37; higher targets at $2,686.49 and $2,701.56.

- Support Levels: Strong support at $2,635.82, followed by $2,624.17.

- Trend Indicators: RSI at 57 and 50 EMA at $2,650.33 confirm bullish momentum.

Gold (XAU/USD) is trading at $2,660.84, up 0.88% in today’s session as the metal regains momentum above its key pivot point at $2,655.33. Supported by the 50-day EMA at $2,650.33, this level is critical for maintaining the bullish outlook.

Immediate resistance is positioned at $2,669.37, followed by higher hurdles at $2,686.49 and $2,701.56. A decisive break above these levels could signal an acceleration in the uptrend.

On the downside, key support is located at $2,635.82, with additional cushions at $2,624.17 and $2,605.31. Failure to hold these levels could lead to a deeper retracement, although strong buying interest near $2,624.17 may limit downside risks.

The RSI stands at 57, reflecting moderate bullish momentum without entering overbought territory. This leaves room for further gains if buyers maintain control. Gold's movement above the $2,655.33 pivot point confirms a bullish bias, supported by strong technical structure.

For traders, buying opportunities above $2,655 could target $2,685 in the short term, with a stop-loss set near $2,637 to manage risks. Watch for a breakout above $2,669.37 for signs of stronger upward momentum.

GOLD (XAU/USD) - Trade Ideas

Entry Price – Buy Above 2655

Take Profit – 2685

Stop Loss – 2637

Risk to Reward – 1: 1.6

Profit & Loss Per Standard Lot = +$3000/ -$1800

Profit & Loss Per Mini Lot = +$300/ -$180