GOLD Price Analysis and Trade Forecast: Daily Trading Signal

Daily Price Outlook

- Momentum Slows: Price rejected at $3,355 with RSI rolling off overbought levels.

- Fibonacci Supports in Focus: $3,294 and $3,274 are likely downside checkpoints.

- SMA Support Nearby: The 50-period SMA at $3,251 may offer rebound potential if tested.

Gold is showing early signs of a short-term correction after reaching a high of $3,355. Price has since pulled back below the $3,344 resistance area, suggesting a potential shift in momentum.

The move coincides with a retreat from overbought RSI conditions and a rejection at the 0.0 Fibonacci extension level ($3,355), drawn from the March low of $3,192. The market has now slipped below the 0.236 retracement ($3,316), a level that may act as an early trigger for further downside.

Technical structure indicates a possible correction toward the $3,294 region, which aligns with the 0.382 Fibonacci retracement. Should bearish momentum accelerate, further declines toward $3,274 and $3,254 may unfold.

These areas are clustered with deeper retracement levels and near the rising 50-period SMA, currently at $3,251 — a zone likely to attract buyers if tested.

Meanwhile, the Relative Strength Index (RSI) has dropped from over 82 to 71.6, cooling from overbought levels but still above neutral. This supports the case for a continued retracement before a potential re-entry by trend-followers. As long as gold remains below $3,344, near-term risks lean toward a corrective phase.

A break back above $3,344 would weaken the bearish outlook and re-expose the $3,355–$3,375 resistance zone.

GOLD (XAU/USD) - Trade Ideas

Entry Price – Sell Below 3344

Take Profit – 3294

Stop Loss – 3375

Risk to Reward – 1: 1.6

Profit & Loss Per Standard Lot = +$5000/ -$3100

Profit & Loss Per Mini Lot = +$500/ -$310