Gold price is rising 1.1%
October 16, 2026
NEWS: Gold price is rising 1.1% as the US Dollar weakens respectively.
Possible Scenarios:
If Gold fails to breach through R1 of 4208.8, our Analysis Department expects Gold to undergo a short- term downward correction.
If Gold manages to break above its R1 of 4208.8, our Analysis Department expects Gold to extend its gains to its R2 of 4230.39.
Support and Resistance Levels:
|
Gold |
S3 |
S2 |
S1 |
Reference Price |
R1 |
R2 |
R3 |
|
4108.01 |
4129.61 |
4151.20 |
4180.00 |
4208.80 |
4230.39 |
4251.99 |
Potential Profit or Potential Loss Calculations:
|
1 dollar per 1 trading lot* |
USD |
EUR** |
GBP*** |
||
|
(+/-) $100 |
(+/-) €88.87 |
(+/-) £74.84 |
|||
*1 trading lot is equivalent of 100 units
**EUR/USD = 1.12529
***GBP/USD = 1.33624
Calculations for exchange rate used as of Friday, October 16, 2026, 14:41: GMT +1