GOLD Price Analysis and Trade Forecast: Daily Trading Signal

Daily Price Outlook

- Gold holds support at $2,500.09; breaking below could trigger a bearish trend.

- Immediate resistance at $2,511.75; further bullish momentum possible if breached.

- Neutral RSI of 51 indicates indecision, but key support levels provide a cautious bullish bias.

Gold (XAU/USD) is currently trading at $2,503.72, down 0.18% in the 4-hour timeframe, as it consolidates near a critical support level.

The pivot point sits at $2,500.09, which acts as a key psychological threshold. The market appears indecisive with the Relative Strength Index (RSI) holding steady at 51, indicating neutral momentum.

On the upside, immediate resistance lies at $2,511.75, followed by the next resistance levels at $2,529.29 and $2,540.41.

Breaking above these levels could signal a bullish continuation, with $2,540.41 serving as a significant hurdle to clear.

Conversely, immediate support is found at $2,491.58, followed by stronger support at $2,478.37 and $2,466.90. A break below $2,491 could trigger further selling pressure, driving the metal towards lower support levels.

The 50-day Exponential Moving Average (EMA) at $2,502.7480 is closely aligned with the current price, suggesting that gold is testing its near-term trend.

The market outlook remains cautiously bullish above the $2,500 pivot point. A break below this key support could shift momentum to the downside, while holding above it keeps the bullish trend intact.

GOLD (XAU/USD) - Trade Ideas

Entry Price – Buy Above 2500

Take Profit – 2515

Stop Loss – 2490

Risk to Reward – 1: 1.5

Profit & Loss Per Standard Lot = +$1500/ -$1000

Profit & Loss Per Mini Lot = +$150/ -$100