NEWS: Gold price is increasing 0.8% following announcements of fresh new tariffs by the Trump administration
Possible Scenarios:
If Gold fails to breach through R1 of 2950.02, our Research Department expects the Gold to undergo a short- term downward correction.
If Gold manages to break above its R1 of 2950.02, our Research Department expects the Gold to extend its gains to its R2 of 2962.71.
Support and Resistance Levels:
Gold |
S3 |
S2 |
S1 |
Reference Price |
R1 |
R2 |
R3 |
2890.80 |
2903.49 |
2916.18 |
2933.10 |
2950.02 |
2962.71 |
2975.40 |
Potential Profit or Potential Loss Calculations:
1 dollar per 1 trading lot* |
USD |
EUR** |
GBP*** |
(+/-) $100 |
(+/-) €95.77 |
(+/-) £79.24 |
*1 trading lot is equivalent of 100 units
**EUR/USD= 1.04420
***GBP/USD= 1.26199
Calculations for exchange rate used as of Wednesday, February 19, 2025, 09:25 GMT