Gold (XAU) Daily Forecast: $2,744 Pivot Holds—Will Fed Rate Cut Fuel Gains?

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Gold – Chart

Gold (XAU/USD) is trading at $2,738.77, up modestly 0.08%, and is just below a key pivot point at $2,744. This level is crucial; If gold breaks above, we could see a push towards immediate resistance at $2,754.58, with further targets at $2,762.54 and $2,773.40.

On the downside, support remains at $2,731.98, with additional layers at $2,724.73 and $2,717.08. The 50-day EMA of $2,752.78 suggests near-term resistance, while the 200-day EMA of $2,720.54 provides a solid base of support.

Right now it’s close, with a break above $2,744 potentially fueling bullish momentum, while a stay below could keep the tone bearish.

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