NEWS: Gold price is increasing 0.6% ahead of U.S. Tax Bill vote, along with U.S. Non-farm payrolls data release this week.
Possible Scenarios:
if Gold fails to breach through R1 of 3352.28, our Research Department expects the Gold to undergo a short- term downward correction.
If Gold manages to break above its R1 of 3352.28, our Research Department expects the Gold to extend its gains to its R2 of 3369.32.
Support and Resistance Levels:
Gold |
S3 |
S2 |
S1 |
Reference Price |
R1 |
R2 |
R3 |
3272.73 |
3289.78 |
3306.82 |
3329.55 |
3352.28 |
3369.32 |
3386.37 |
Potential Profit or Potential Loss Calculations:
1 dollar per 1 trading lot* |
USD |
EUR** |
GBP*** |
||
(+/-) $100 |
(+/-) €84.98 |
(+/-) £72.82 |
*1 trading lot is equivalent of 100 units
**EUR/USD = 1.17677
***GBP/USD = 1.37327
Calculations for exchange rate used as of Tuesday, July 1, 2025, 8:05 GMT+1