GOLD Price Analysis and Trade Forecast: Daily Trading Signal

Daily Price Outlook

- Pivot Point Tension: Gold is teetering near the $2,789 pivot, which could define the day’s direction.

- Resistance Levels: Immediate resistance stands at $2,805, followed by $2,812.

- Support Zones: Key support is located at $2,779, with deeper support near $2,745 aligned with the 50-day EMA.

Gold (XAU/USD) is currently trading at $2,784.29, down 0.11% on the day, as it hovers near a critical pivot point at $2,789.81. The precious metal is testing support levels after encountering strong resistance at $2,798.12, a zone that remains a significant barrier to any immediate upside.

Technical indicators suggest a cautious sentiment, with the Relative Strength Index (RSI) sitting at 69—just below overbought territory, signaling potential consolidation or mild correction if buying pressure weakens.

Above the pivot, gold faces resistance at $2,805.15 and $2,812.45. A breakout above these levels could renew bullish momentum, pushing prices higher if market conditions support risk-off sentiment. However, the presence of the 50-day Exponential Moving Average (EMA) at $2,745 indicates a strong underlying support level, likely to provide a floor for any downward movement.

On the downside, immediate support rests at $2,779.33, followed by more robust levels at $2,773.08 and $2,767.84. A sustained break below these supports could open the door to further declines, targeting the 50 EMA around $2,745, which could serve as a pivotal level for any significant trend shifts.

The current setup suggests a potential selling opportunity if gold fails to hold above $2,789, with a target at $2,773. However, caution is advised, as a recovery above $2,798 would invalidate this outlook and hint at renewed bullish momentum.

This balanced technical landscape calls for close monitoring of the $2,789 pivot, which will likely shape gold's short-term trajectory.

GOLD (XAU/USD) - Trade Ideas

Entry Price – Sell Below 2789

Take Profit – 2773

Stop Loss – 2797

Risk to Reward – 1: 2

Profit & Loss Per Standard Lot = +$1600/ -$800

Profit & Loss Per Mini Lot = +$160/ -$80