NEWS: Gold price is increasing 1.4%, reaching new all-time high price this morning, as escalating trade tensions and concerns over global economic growth fueled demand for safe-haven bullion.
Possible Scenarios:
If Gold fails to breach through R1 of 3320.78, our Research Department expects the Gold to undergo a short- term downward correction.
If Gold manages to break above its R1 of 3320.78, our Research Department expects the Gold to extend its gains to its R2 of 3344.45.
Support and Resistance Levels:
Gold |
S3 |
S2 |
S1 |
Reference Price |
R1 |
R2 |
R3 |
3210.35 |
3234.01 |
3257.68 |
3289.23 |
3320.78 |
3344.45 |
3368.11 |
Potential Profit or Potential Loss Calculations:
1 dollar per 1 trading lot* |
USD |
EUR** |
GBP*** |
(+/-) $100 |
(+/-) €88.03 |
(+/-) £75.39 |
*1 trading lot is equivalent of 100 units
**EUR/USD = 1.13602
***GBP/USD = 1.32643
Calculations for exchange rate used as of Wednesday, April 16, 2025, 8:00 AM (GMT+1)