NEWS: Gold price is increasing 2.5% bouncing off from its five week low, following lower than expected PPI inflation data from the US
Possible Scenarios:
If Gold fails to breach through R1 of 3204.15, our Research Department expects the Gold to undergo a short- term downward correction.
If Gold manages to break above its R1 of 3204.15, our Research Department expects the Gold to extend its gains to its R2 of 3232.77.
Support and Resistance Levels:
Gold |
S3 |
S2 |
S1 |
Reference Price |
R1 |
R2 |
R3 |
3070.62 |
3099.23 |
3127.85 |
3166.00 |
3204.15 |
3232.77 |
3261.38 |
Potential Profit or Potential Loss Calculations:
1 dollar per 1 trading lot* |
USD |
EUR** |
GBP*** |
(+/-) $100 |
(+/-) €89.23 |
(+/-) £75.17 |
*1 trading lot is equivalent of 100 units
**EUR/USD = 1.12065
***GBP/USD = 1.33035
Calculations for exchange rate used as of Thursday, May 15, 2025, 14:50 GMT+1