GOLD Price Analysis and Trade Forecast: Daily Trading Signal

Daily Price Outlook

- Immediate Resistance: $2,642.56; Next targets: $2,658.33, $2,674.87.

- Immediate Support: $2,607.53; Key levels below: $2,593.83, $2,583.93.

- RSI at 60 and 50 EMA at $2,622.84 signal bullish momentum.

Gold (XAU/USD) is trading at $2,630.70, up 0.27% as it consolidates gains following a steady recovery. The price action remains supported by the $2,620.64 pivot point, while the 50 EMA at $2,622.84 provides dynamic support, reinforcing the bullish sentiment.

The immediate resistance lies at $2,642.56, aligning with the first target for short-term buyers. A breakout above this level could propel gold toward the next resistance at $2,658.33, with a further push targeting $2,674.87.

On the downside, immediate support rests at $2,607.53, with additional layers at $2,593.83 and $2,583.93 providing a safety net for bulls.

The RSI at 60 indicates moderate bullish momentum, but the market requires a decisive move above $2,642.56 to maintain the uptrend.

The broader outlook is cautiously optimistic as geopolitical risks and USD fluctuations continue to shape market sentiment.

Traders are eyeing the upcoming resistance zones, as breaking through these levels could spark accelerated gains.

On the flip side, a breach below $2,620.64 may trigger a pullback, with downside risks increasing if prices dip below the $2,607.53 support.

Gold's technical setup favors buying opportunities above $2,626, with a take-profit target of $2,642 and a stop-loss at $2,614.

GOLD (XAU/USD) - Trade Ideas

Entry Price – Buy Above 2626

Take Profit – 2642

Stop Loss – 2614

Risk to Reward – 1: 1.3

Profit & Loss Per Standard Lot = +$1600/ -$1200

Profit & Loss Per Mini Lot = +$160/ -$120