GOLD Price Analysis and Trade Forecast: Daily Trading Signal

Daily Price Outlook

- Pivot Level: Gold remains below $2,627.63, critical for near-term direction.

- Resistance Zones: Breakout above $2,627.63 could target $2,654.35 and $2,678.91.

- Support Levels: Immediate support is at $2,591.93, with the 50-day EMA reinforcing bullish bias.

Gold (XAU/USD) is trading at $2,620.82, up 0.34%, supported by strong bullish sentiment on the 4-hour chart. The metal remains below the pivot point at $2,627.63, which serves as a key decision level.

A break above this pivot could drive prices toward immediate resistance at $2,654.35, with further targets at $2,678.91 and $2,707.57, indicating the potential for a sustained rally.

On the downside, immediate support lies at $2,591.93, with additional levels at $2,561.74 and $2,537.16 offering key protection zones for bulls. The 50-day EMA at $2,583.72 reinforces upward momentum, aligning with the broader bullish trend.

However, the RSI at 67 signals the approach of overbought territory, which could trigger a pullback if resistance near the pivot holds.

For traders, maintaining a cautious approach is advisable. A failure to clear $2,627.63 may prompt selling pressure, with prices likely testing $2,591.93 in the short term.

Conversely, a confirmed breakout above $2,627.63 could pave the way for a challenge of the $2,654.35 level. Setting tight stop losses and monitoring volume near key levels will be critical to managing risk effectively.

GOLD (XAU/USD) - Trade Ideas

Entry Price – Sell Limit 2627

Take Profit – 2592

Stop Loss – 2653

Risk to Reward – 1: 1.3

Profit & Loss Per Standard Lot = +$3500/ -$2600

Profit & Loss Per Mini Lot = +$350/ -$260