GOLD Price Analysis and Trade Forecast: Daily Trading Signal

Daily Price Outlook

- Gold remains supported around $2,610, with $2,633 acting as key resistance.

- RSI at 53 reflects neutral momentum, suggesting potential consolidation.

- A break above $2,633 targets $2,651, while failure to hold $2,610 risks a decline to $2,573.

Gold prices have maintained upward momentum, trading at $2,620.17, bolstered by safe-haven demand amid geopolitical tensions and economic uncertainty.

The pivot point lies at $2,609.49, which has been a critical level for determining short-term direction. Immediate resistance is seen at $2,633.23, followed by $2,651.64 and $2,670.44, with higher targets forming in case of continued bullish pressure.

On the downside, immediate support is at $2,588.03, with further key support levels at $2,573.39 and $2,556.29.

The 50-day Exponential Moving Average (EMA) sits at $2,615.77, reinforcing the current support level near $2,610. The Relative Strength Index (RSI) is at 53, indicating a neutral market stance, with a slight bullish bias.

A break above $2,633.23 would open the door to further gains, potentially targeting the next resistance at $2,651.64. Conversely, if gold fails to hold above $2,610, it could test lower support levels, with $2,588.03 acting as a critical point of defense.

Traders should remain cautious with thin holiday liquidity, as it can amplify market moves. A sustained breach above $2,610 is likely to sustain upward momentum, while a failure to maintain support could lead to a retracement toward lower levels.

GOLD (XAU/USD) - Trade Ideas

Entry Price – Buy Above 2610

Take Profit – 2633

Stop Loss – 2595

Risk to Reward – 1: 1.5

Profit & Loss Per Standard Lot = +$2300/ -$1500

Profit & Loss Per Mini Lot = +$230/ -$150