CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 74% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
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