GOLD Price Analysis and Trade Forecast: Daily Trading Signal

Daily Price Outlook

- Price action shows a bullish engulfing and higher lows above trendline support.

- RSI at 55.86 indicates neutral-bullish momentum without overextension.

- Watch for a break above $3,352 to confirm bullish continuation toward $3,371.

Gold remains in a broad consolidation phase but is showing early signs of bullish intent. After bouncing near $3,307 support, the price now trades above the 50 SMA ($3,306.41), with $3,319 acting as a key intraday pivot.

The recovery is supported by a series of higher lows and a short-term ascending trendline drawn from the April 23 low near $3,272. This structure reinforces the bullish bias unless $3,273 is breached.

Candlestick analysis reveals a recent bullish engulfing candle followed by a small-bodied Doji near support, suggesting indecision fading in favor of buyers.

Momentum picked up again after this pattern, as the RSI turned higher from midline (now at 55.86), hinting at renewed strength without yet being overbought.

The $3,352 area has acted as a strong intraday resistance, rejecting advances twice. A clear breakout above this level would expose the $3,371 zone, which coincides with the top of a horizontal price channel that’s defined the trading range since mid-April.

Beyond that, $3,387 stands as the next upside target. On the downside, $3,306 remains the first technical floor, followed by $3,273 and $3,246.

The 50 SMA crossover above the price earlier last week suggested short-term bearishness, but the current recovery above that level negates the prior signal.

No bearish divergence is visible on the RSI, and volume has slightly increased on green candles, giving additional weight to bullish momentum.

If gold breaks and sustains above $3,352, the three white soldiers pattern from last week could extend, signaling trend continuation.

GOLD (XAU/USD) - Trade Ideas

Entry Price – Buy Above 3307

Take Profit – 3371

Stop Loss – 3273

Risk to Reward – 1: 1.4

Profit & Loss Per Standard Lot = +$6400/ -$3400

Profit & Loss Per Mini Lot = +$640/ -$340