NEWS: Gold price is falling -2.4% following profit taking by investors after gold reached a new all-time high as new tariffs were announced by the US administration
Possible Scenarios:
If Gold fails to breach through S1 of 3068.70, our Research Department expects the Gold to undergo a short- term upward correction.
If Gold manages to break below its S1 of 3068.70, our Research Department expects the Gold to extend its losses to its S2 of 3054.72.
Support and Resistance Levels:
Gold |
S3 |
S2 |
S1 |
Reference Price |
R1 |
R2 |
R3 |
3040.75 |
3054.72 |
3068.70 |
3087.33 |
3105.96 |
3119.94 |
3133.91 |
Potential Profit or Potential Loss Calculations:
1 dollar per 1 trading lot* |
USD |
EUR** |
GBP*** |
(+/-) $100 |
(+/-) €90.53 |
(+/-) £76.06 |
*1 trading lot is equivalent of 100 units
**EUR/USD = 1.10459
***GBP/USD = 1.31469
Calculations for exchange rate used as of Thursday, April 3, 2025, 12:15 GMT