NEWS: Gold price is increasing 2.5% after USA imposed secondary tariffs to China.
Possible Scenarios:
If Gold fails to breach through R1 of 3057.79, our Research Department expects the Gold to undergo a short- term downward correction.
If Gold manages to break above its R1 of 3057.79, our Research Department expects the Gold to extend its gains to its R2 of 3088.15.
Support and Resistance Levels:
Gold |
S3 |
S2 |
S1 |
Reference Price |
R1 |
R2 |
R3 |
2916.11 |
2946.47 |
2976.83 |
3017.31 |
3057.79 |
3088.15 |
3118.51 |
Potential Profit or Potential Loss Calculations:
1 dollar per 1 trading lot* |
USD |
EUR** |
GBP*** |
(+/-) $100 |
(+/-) €90.45 |
(+/-) £78.06 |
*1 trading lot is equivalent of 100 units
**EUR/USD = 1.10564
***GBP/USD = 1.28102
Calculations for exchange rate used as of Wednesday, April 9, 2025, 8:25 GMT+1