June 2, 2025
NEWS: Gold price is increasing 1.1% following escalations in the Russian war in Ukraine, and as U.S. President Donald Trump announced to double tariffs on imported steel and aluminum.
Possible Scenarios:
if Gold fails to breach through R2 of 3362.74, our Research Department expects the Gold to undergo a short- term downward correction.
If Gold manages to break above its R2 of 3362.74, our Research Department expects the Gold to extend its gains to its R3 of 3381.32.
Support and Resistance Levels:
|
Gold |
S3 |
S2 |
S1 |
Reference Price |
R1 |
R2 |
R3 |
|
3257.48 |
3276.06 |
3294.63 |
3319.40 |
3344.17 |
3362.74 |
3381.32 |
Potential Profit or Potential Loss Calculations:
|
1 dollar per 1 trading lot* |
USD |
EUR** |
GBP*** |
|
(+/-) $100 |
(+/-) €87.71 |
(+/-) £73.9 |
*1 trading lot is equivalent of 100 units
**EUR/USD = 1.14016
***GBP/USD = 1.35313
Calculations for exchange rate used as of Monday, June 2, 2025, 8:00 GMT+1
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