GOLD Price Analysis and Trade Forecast: Daily Trading Signal

Daily Price Outlook

- Gold faces resistance at $2,909.07, with a breakout targeting $2,915.39 and $2,930.55.

- Support at $2,880.20 is critical; a break below could expose $2,858.99 and $2,838.41.

- Bearish bias remains below $2,900, with traders eyeing sell positions under $2,899 targeting $2,880.

Gold (XAU/USD) is trading at $2,895.25, hovering just below the $2,900 pivot point, signaling indecision in the market. Despite a minor decline, gold remains within a narrow range as traders await key catalysts.

The 50-day EMA at $2,909.07 acts as immediate resistance, aligning closely with short-term price action. A sustained break above this level could push gold toward $2,915.39, with further upside targets at $2,930.55 and $2,954.43.

On the downside, immediate support lies at $2,880.20, and a breach of this level could accelerate selling pressure, exposing gold to $2,858.99 and potentially $2,838.41. The broader trend remains bearish below $2,900, with a firm rejection of resistance reinforcing downside risk.

For traders, the technical setup favors selling below $2,899, targeting $2,880, with a stop loss at $2,913. Short-term sentiment hinges on macroeconomic developments, particularly inflation data and Federal Reserve rate expectations, which could dictate the next move.

GOLD (XAU/USD) - Trade Ideas

Entry Price – Sell Below 2899

Take Profit – 2880

Stop Loss – 2913

Risk to Reward – 1: 1.3

Profit & Loss Per Standard Lot = +$1900/ -$1400

Profit & Loss Per Mini Lot = +$190/ -$140