GOLD Price Analysis and Trade Forecast: Daily Trading Signal

Daily Price Outlook

- Gold remains bearish below $2,572.70, with RSI at 41, indicating weak momentum.

- Immediate resistance at $2,595.94 aligns with the 50-day EMA, reinforcing a challenging barrier for bulls.

- Support at $2,537.16 could be tested if selling pressure persists, with a target of $2,516.86 if the bearish trend intensifies.

Gold (XAU/USD) is trading around $2,561.97, down 0.11%, as it lingers below its pivot point of $2,572.70, suggesting that bearish sentiment continues to dominate. The Relative Strength Index (RSI) sits at 41, well below the neutral 50 mark, indicating weak momentum.

Immediate support lies at $2,537.16, with deeper support at $2,516.86 and $2,497.83 if sellers increase pressure. Conversely, gold faces immediate resistance at $2,595.94, aligning closely with the 50-day EMA of $2,594.24, reinforcing this level as a significant hurdle.

A break above $2,572.70 could give bulls some breathing room, possibly driving prices towards $2,595.94, but sustained upward momentum would require clearing additional resistance at $2,618.54. In the current scenario, failure to regain ground above the pivot suggests a downward bias, with a potential target near $2,537 if selling continues.

The bearish trend may remain intact as long as gold trades below the pivot, with sellers likely to enter aggressively around the $2,572 mark.

Given the overall setup, the outlook for gold remains cautious, with the primary entry strategy focused on selling below $2,572. Key levels and the RSI confirm the bearish inclination, making this a critical juncture for price movement.

GOLD (XAU/USD) - Trade Ideas

Entry Price – Sell Below 2572

Take Profit – 2537

Stop Loss – 2595

Risk to Reward – 1: 1.5

Profit & Loss Per Standard Lot = +$3500/ -$2300

Profit & Loss Per Mini Lot = +$350/ -$230