Gold price is falling -0.6%

Fast Moving Market - 03/09/2024

03 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 is falling -0.6% on a stronger US dollar ahead of US ISM Manufacturing PMI data for August at 15:00 GMT+1.

Possible Scenarios:

If Gold fails to breach through S1 of 2489.41, our Research Department expects the Gold to undergo a short- term upward correction.

If Gold manages to break below its S1 of 2489.41, our Research Department expects the Gold to extend its losses to its S2 of 2481.46.

Support and Resistance Levels:

Gold	S3	S2	S1	Reference Price	R1	R2	R3
Gold	2473.52	2481.46	2489.41	2500.00	2510.59	2518.54	2526.48

Potential Profit or Potential Loss Calculations:

1 dollar per 1 trading lot*	USD	EUR**	GBP***
1 dollar per 1 trading lot*	(+/-) $100	(+/-) €90.58	(+/-) £76.16

*1 trading lot is equivalent of 100 units
**EUR/USD = 1.10380
***GBP/USD = 1.31280
Calculations for exchange rate used as of Tuesday, September 3, 2024, 14:00: AM

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