NEWS: Gold price is falling 0.70%, ahead of US President Trump visiting Federal Reserve and Fed Chair Jerome Powell today at 21:00 GMT+1.
Possible Scenarios:
If Gold fails to breach through S1 of 3359.25, our Research Department expects Gold to undergo a short- term upward correction.
If Gold manages to break below its S1 of 3359.25, our Research Department expects Gold to extend its losses to its S2 of 3345.50.
Support and Resistance Levels:
Gold |
S3 |
S2 |
S1 |
Reference Price |
R1 |
R2 |
R3 |
3331.75 |
3345.50 |
3359.25 |
3377.58 |
3395.91 |
3409.66 |
3423.41 |
Potential Profit or Potential Loss Calculations:
1 dollar per 1 trading lot* |
USD |
EUR** |
GBP*** |
(+/-) $100 |
(+/-) €85.02 |
(+/-) £73.74 |
*1 trading lot is equivalent of 100 units
**EUR/USD = 1.17619
***GBP/USD = 1.35616
Calculations for exchange rate used as of Thursday, July 24, 2025, 09:00 GMT+1