NEWS: Gold price is increasing 2.9% after China announced counter tariffs to USA.
Possible Scenarios:
If Gold fails to breach through R1 of 3085.48, our Research Department expects the Gold to undergo a short- term downward correction.
If Gold manages to break above its R1 of 3085.48, our Research Department expects the Gold to extend its gains to its R2 of 3115.84.
Support and Resistance Levels:
Gold |
S3 |
S2 |
S1 |
Reference Price |
R1 |
R2 |
R3 |
2943.80 |
2974.16 |
3004.52 |
3045.00 |
3085.48 |
3115.84 |
3146.20 |
Potential Profit or Potential Loss Calculations:
1 dollar per 1 trading lot* |
USD |
EUR** |
GBP*** |
(+/-) $100 |
(+/-) €90.58 |
(+/-) £78.04 |
*1 trading lot is equivalent of 100 units
**EUR/USD = 1.10444
***GBP/USD = 1.28153
Calculations for exchange rate used as of Wednesday, April 9, 2025, 12:30 GMT+1