GOLD Price Analysis and Trade Forecast: Daily Trading Signal

Daily Price Outlook

- Gold’s key pivot level at $2,906.72 will determine its next directional move.

- Breakout above $2,943.27 could trigger further upside toward $2,966.54 and $2,990.75.

- Support at $2,882.03 and $2,859.72 remains crucial; a drop below could signal further weakness.

Gold (XAU/USD) is currently trading at $2,866.29, down 0.02%, as investors assess the metal’s resilience amid shifting macroeconomic conditions. The precious metal remains in a consolidation phase, hovering near key support levels while facing resistance from recent highs.

From a technical perspective, gold’s pivot point at $2,906.72 serves as a crucial inflection level. A break above this level could reinforce bullish sentiment, leading to an upward push toward immediate resistance at $2,943.27. If momentum continues, gold could challenge $2,966.54, with a potential test of $2,990.75, marking a significant hurdle for further gains.

On the downside, immediate support sits at $2,882.03, followed by $2,859.72 and $2,833.82. A drop below $2,859.72 would signal a deeper correction, potentially exposing gold to a retest of the 50-day EMA at $2,839.99. A sustained breakdown under $2,833.82 could trigger additional selling pressure, shifting sentiment in favor of bears.

Traders should closely monitor gold’s reaction near the $2,906.72 pivot. A sustained break above this level favors continued gains, while a rejection could lead to further downside.

GOLD (XAU/USD) - Trade Ideas

Entry Price – Buy Above 2914

Take Profit – 2943

Stop Loss – 2891

Risk to Reward – 1:1.2

Profit & Loss Per Standard Lot = +$2900/ -$2300

Profit & Loss Per Mini Lot = +$290/ -$230