Gold price increased 0.8%

Fast Moving Market - 05/09/2024

05 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 0.8% due to lower-than-expected job openings data from the US in July, which heightened recession fears

Possible Scenarios:

If Gold fails to breach through R2 of 2515.41, our Research Department expects the Gold to undergo a short- term downward correction.

If Gold manages to break above its R2 of 2515.41, our Research Department expects the Gold to extend its gains to its R3 of 2523.58.

Support and Resistance Levels:

Gold	S3	S2	S1	Reference Price	R1	R2	R3
Gold	2469.12	2477.29	2485.46	2496.35	2507.24	2515.41	2523.58

Potential Profit or Potential Loss Calculations:

1 dollar per 1 trading lot*	USD	EUR**	GBP***
1 dollar per 1 trading lot*	(+/-) $100	(+/-) €90.12	(+/-) £75.93

*1 trading lot is equivalent of 100 units
**EUR/USD = 1.10964
***GBP/USD = 1.31700
Calculations for exchange rate used as of Thursday, September 5, 2024, 10:58: AM

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