GOLD Price Analysis and Trade Forecast: Daily Trading Signal

Daily Price Outlook

- Resistance Levels: $2,686.65, $2,704.46; breakout above $2,666.19 critical.

- Support Levels: $2,621.48, $2,604.95; strong zone for potential pullback.

- Indicators: RSI at 55 leans bullish; 50 EMA near $2,643.97 reinforces upward bias.

Gold (XAU/USD) is trading at $2,648.94, up 0.19%, maintaining a bullish bias above its pivot point of $2,666.19. The immediate resistance at $2,686.65 remains a key level to watch, with further resistance at $2,704.46 suggesting potential upside targets.

On the downside, immediate support lies at $2,621.48, followed by $2,604.95 and $2,586.53, forming a strong support zone in case of retracement.

The Relative Strength Index (RSI) sits at 55, signaling neutral momentum but tilting toward a bullish outlook. The 50-day EMA at $2,643.97 aligns closely with the current price, reinforcing near-term support and indicating the uptrend is intact.

A decisive move above $2,666.19 could confirm further upward momentum, targeting $2,686.65 and beyond. Conversely, a break below $2,621.48 could expose the metal to sharper losses toward the $2,604.95 level.

Traders are closely monitoring the symmetrical triangle pattern, which suggests a breakout is imminent. Entry points above $2,640 could yield profits, with targets near $2,666, while a stop-loss at $2,625 offers downside protection.

GOLD (XAU/USD) - Trade Ideas

Entry Price – Buy Above 2640

Take Profit – 2666

Stop Loss – 2625

Risk to Reward – 1: 1.7

Profit & Loss Per Standard Lot = +$2600/ -$1500

Profit & Loss Per Mini Lot = +$260/ -$150