NEWS: Gold price decreased 0.4% as the 10-year US government bond yield rose to its highest level since March 2021.
Possible Scenarios:
If Gold fails to breach through S1 of 1793.92, our Research Department expects the Gold to undergo a short-term upward correction.
If Gold manages to break below its S1 of 1793.92, our Research Department expects the Gold to extend its losses to its S2 of 1787.36.
Support and Resistance Levels:
Gold |
S3 |
S2 |
S1 |
Reference Price |
R1 |
R2 |
R3 |
1780.79 |
1787.36 |
1793.92 |
1802.68 |
1811.44 |
1818.00 |
1824.57 |
Potential Profit or Potential Loss Calculations:
10 cents per 1 trading lot* |
USD |
EUR** |
GBP*** |
||
(+/-) $100 |
(+/-) €85.1 |
(+/-) £73.01 |
*1 trading lot is equivalent of 100 units
**EUR/USD = 1.12858
***GBP/USD = 1.35016
Calculations for exchange rate used as of 08:00 (GMT) 6/1/2022