GOLD Price Analysis and Trade Forecast: Daily Trading Signal

Daily Price Outlook

- Gold is hovering around the critical $2,496 pivot point, with a bearish bias.

- RSI indicates mild bearish momentum, with a value of 40, signaling potential further downside.

- A break below $2,496 could target $2,475, while holding above this level might invite a correction.

Gold (XAU/USD) is trading at $2,486.21, down 0.27%, as bearish sentiment continues to weigh on the metal. The immediate pivot point rests at $2,496.11, just below the 50-day Exponential Moving Average (EMA) of $2,507.69.

This region represents a critical short-term threshold that, if breached, could invite further selling pressure. The next resistance levels to watch are $2,527.08 and $2,540.41, but the downside remains more compelling at the moment, with immediate support forming at $2,467.35.

The Relative Strength Index (RSI) sits at 40, signaling mild bearish momentum as prices approach oversold territory. A further breakdown below $2,467.35 could drive the metal toward deeper support at $2,452.84, with the next significant level at $2,480.08.

Gold's trajectory remains heavily dependent on its ability to sustain above the $2,496 pivot. If it holds, a bullish correction could emerge. However, a decisive break below $2,496 would likely trigger a sharp sell-off, targeting $2,475.

The price action will remain influenced by external factors, such as the U.S. dollar’s strength and global market risk sentiment, both of which have been pivotal in driving gold’s recent moves.

GOLD (XAU/USD) - Trade Ideas

Entry Price – Sell Below 2496

Take Profit – 2475

Stop Loss – 2507

Risk to Reward – 1: 1.9

Profit & Loss Per Standard Lot = +$2100/ -$1100

Profit & Loss Per Mini Lot = +$210/ -$110