GOLD Price Analysis and Trade Forecast: Daily Trading Signal

Daily Price Outlook

- Gold remains bearish below $2,893, with the 50-day EMA at $2,909 acting as strong resistance.

- Immediate support at $2,859—break below this level could accelerate selling toward $2,832.

- Sell positions below $2,893 remain favorable, with a stop-loss at $2,915 and profit target at $2,859.

Gold is trading at $2,887.61, facing downward pressure as it struggles below the pivot point of $2,893.92. The short-term technical setup suggests a bearish bias, with the 50-day EMA at $2,909.11 acting as immediate resistance.

A failure to reclaim this level could reinforce selling momentum, pushing prices toward the first support at $2,859.91, with further downside targets at $2,832.63 and $2,807.60.

On the upside, gold must break decisively above $2,893.92 to challenge resistance at $2,930.44, with a stronger rally possible toward $2,956.85 and $2,978.40 if buyers regain control.

However, given the metal’s inability to sustain gains above key moving averages, near-term risks remain skewed to the downside.

A sell strategy below $2,893 appears favorable, with a take-profit target at $2,859 and a stop-loss placed at $2,915. Traders should watch for price action near support levels, as increased volume around these zones could signal potential reversals.

If selling pressure intensifies, gold could extend its decline toward the $2,832 handle, reflecting broader weakness in the precious metals market.

GOLD (XAU/USD) - Trade Ideas

Entry Price – Sell Below 2893

Take Profit – 2859

Stop Loss – 2915

Risk to Reward – 1: 1.5

Profit & Loss Per Standard Lot = +$3400/ -$2200

Profit & Loss Per Mini Lot = +$340/ -$220