Intraday Trading:

 

Gold is currently trading within a narrow range of sideways movements at intraday levels.

It is aiming to build positive momentum that could help it surpass the psychological barrier at $3,000, a level it touched during last Friday’s session.

The price also managed to shake off the bullish exhaustion, as indicated by the RSI signals.

Next Price Target:

 

The next target is set at $3,055, according to the short-term symmetrical triangle pattern.

This target comes amid strong control by the primary uptrend and price trading in line with the trendline.

Positive Scenario:

 

The bullish scenario hinges on the price remaining above the support level at $2,950.

A break below this level could trigger downward pressure and potentially initiate a corrective wave that may take some time to unfold.