Gold price increased 0.4%

Fast Moving Market - 06/09/2024

06 September, 2024

The example below uses Contracts For Difference (CFDs). Calculations are only on the price of the specific instrument on the date below and calculations indicate a possible profit or loss. No representation or warranty is given as to the accuracy or completeness of this information, consequently any person acting on it does so entirely at their own risk.

NEWS: Gold price increased 0.4% after NFP data came in lower than expected.

Possible Scenarios:

if Gold fails to breach through R1 of 2530.28, our Research Department expects the Gold to undergo a short- term downward correction.
If Gold manages to break above its R1 of 2530.28, our Research Department expects the Gold to extend its gains to its R2 of 2538.74.

Support and Resistance Levels:

Gold	S3	S2	S1	Reference Price	R1	R2	R3
Gold	2490.80	2499.26	2507.72	2519.00	2530.28	2538.74	2547.20

Potential Profit or Potential Loss Calculations:

1 dollar per 1 trading lot*			USD	EUR**	GBP***
1 dollar per 1 trading lot*			(+/-) $100	(+/-) €89.69	(+/-) £75.57

*1 trading lot is equivalent of 100 units
**EUR/USD= 1.11496
***GBP/USD= 1.32325
Calculations for exchange rate used as of Friday, September 6, 2024, 14:33: PM

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