NEWS: Gold price increased 1.1% reaching a new all-time high as a result of the escalating tariff war between the United States and China.
Possible Scenarios:
if Gold fails to breach through R1 of 3243.08, our Research Department expects the Gold to undergo a short- term downward correction.
If Gold manages to break above its R1 of 3243.08, our Research Department expects the Gold to extend its gains to its R2 of 3277.46.
Support and Resistance Levels:
Gold |
S3 |
S2 |
S1 |
Reference Price |
R1 |
R2 |
R3 |
3082.61 |
3117.00 |
3151.38 |
3197.23 |
3243.08 |
3277.46 |
3311.85 |
Potential Profit or Potential Loss Calculations:
1 dollar per 1 trading lot* |
USD |
EUR** |
GBP*** |
||
(+/-) $100 |
(+/-) €87.85 |
(+/-) £76.43 |
*1 trading lot is equivalent of 100 units
**EUR/USD= 1.13731
***GBP/USD= 1.30727
Calculations for exchange rate used as of Friday, April 11, 2025, 09:30 (GMT+1)