GOLD Price Analysis and Trade Forecast: Daily Trading Signal

Daily Price Outlook

- Resistance Levels: Immediate at $2,675.25; next targets at $2,691.73 and $2,711.09.

- Support Levels: Key support at $2,619.22; additional levels at $2,592.86 and $2,571.02.

- Technical Indicators: RSI at 73 signals overbought conditions, but bullish EMA crossover supports upward trend.

Gold (XAU/USD) is trading at $2,660.89, up 0.39% for the day, supported by strong bullish sentiment on the 4-hour chart. Prices remain comfortably above the pivot point at $2,646, suggesting sustained momentum.

Immediate resistance lies at $2,675.25, followed by $2,691.73 and $2,711.09, as gold continues to push toward higher levels amid global uncertainty and robust safe-haven demand.

On the downside, immediate support is at $2,619.22, with additional levels at $2,592.86 and $2,571.02 providing safety nets for potential retracements. The RSI is currently at 73, indicating overbought conditions, though the strong trend suggests this may persist in the short term.

The 50-day EMA at $2,613.76 offers solid support, reinforcing the bullish case. Traders are advised to monitor the $2,646 pivot closely, as a break below this level could reverse the trend and open the door to sharper declines toward $2,619 or lower.

A potential entry point is identified at $2,646, with a suggested stop loss at $2,630 to manage downside risks. Profit targets are set at $2,674 and above, as technical indicators align with bullish market conditions.

Overall, gold’s technical landscape remains favorable above $2,646, bolstered by geopolitical risks and investor appetite for safe-haven assets. Traders should watch resistance at $2,691.73 for confirmation of further upside momentum.

GOLD (XAU/USD) - Trade Ideas

Entry Price – Buy Above 2646

Take Profit – 2674

Stop Loss – 2630

Risk to Reward – 1: 1.7

Profit & Loss Per Standard Lot = +$2800/ -$1600

Profit & Loss Per Mini Lot = +$280/ -$160