Risk Disclaimer: The example below is for illustrative purposes only and is based on price movements derived from Contracts for Difference (CFDs). The calculations reflect hypothetical outcomes using historical or specified price data for the relevant instrument on the stated date and are not indicative of future performance. Any reliance placed on this material is strictly at the user’s own risk.
Weekly Special Report: Gold
GEOPOLITICS: MIDDLE EAST WAR
- NEGOTIATION EFFORTS CONTINUE: IRAN EXPECTED TO SUBMIT NEW PROPOSAL. Mediators in Pakistan expect to receive a revised proposal from Iran in the coming days to end the war, after U.S. President Donald Trump signaled he would not accept the previous version. Iranian Foreign Minister Abbas Araghchi has returned to Tehran to consult with leadership, although the process remains slow due to coordination challenges.
- CEASEFIRE REMAINS IN PLACE WITHOUT A FIXED DEADLINE. The ceasefire continues with no defined end date, as both sides remain engaged in negotiations. Despite ongoing disagreements, efforts to reach a diplomatic solution persist, reducing the likelihood of an immediate return to full-scale conflict.
Source: Reuters, Bloomberg, CNBC, CNN, Fox News
EVENTS:
- WEDNESDAY, APRIL 29 AT 19:00 GMT+1: FED INTEREST RATE DECISION. The Fed is expected to keep rates unchanged at 3.75%, with markets closely watching the statement and press conference for signals on the future policy path. Any shift toward a more cautious or dovish stance could support gold.
- THURSDAY, APRIL 30 AT 13:30 GMT+1: U.S. GROSS DOMESTIC PRODUCT (GDP) (Q1). This release provides a broad measure of economic activity. Signs of slowing growth could strengthen expectations of monetary easing, supporting gold.
- FRIDAY, MAY 1 AT 15:00 GMT+1: ISM MANUFACTURING PURCHASING MANAGERS INDEX (PMI) (APRIL). The most closely watched indicator of U.S. manufacturing activity. It provides insight into economic momentum, with particular focus on new orders, production, and employment. A weaker reading could reinforce expectations of slower growth and potential monetary easing, supporting gold.
- FRIDAY, MAY 8 AT 13:30 GMT: U.S. NON-FARM PAYROLLS AND UNEMPLOYMENT RATE (APRIL). One of the most important indicators of the U.S. labor market. It provides insight into job creation and overall economic strength. A softer labor market (lower job growth or higher unemployment) could increase expectations of Fed rate cuts, supporting gold.
PRICE ACTION
- GOLD PRICE HIT A NEW ALL-TIME HIGH ON JANUARY 28, 2026 ($5,597.41). Gold price currently trades at around $4,565, and if it fully recovers to its previous all-time high, it could see an upside of around $1,032. However, the price could also decline.
- FORECAST: Wells Fargo forecasts $6,100; Bank of America forecasts $6,000; Goldman Sachs forecasts $5,400; Morgan Stanley forecasts $5,700; UBS forecasts $6,200; JPMorgan forecasts $6,300; Deutsche Bank forecasts $6,000; Societe General forecasts $6,000.
TECHNICAL ANALYSIS
- SUPPORT AREA: $4,700 - $4,500. The recent increase has pushed gold prices toward a key technical support zone around $4,700–$4,500. This area could act as a short-term floor; however, price movements remain uncertain, and a sustained break below this range may signal further downside risk.
GRAPH (Daily): February 2025 – April 2026
Please note that past performance does not guarantee future results
Gold, April 29, 2026
Current Price: 4,565
Example of calculation based on weekly market trend for 1.00 Lot1
|
GOLD
|
|
Pivot Points
|
Resistance 3
|
Resistance 2
|
Resistance 1
|
Support 1
|
Support 2
|
Support 3
|
|
Profit or loss in $
|
43,500
|
33,500
|
18,500
|
-11,500
|
-16,500
|
-21,500
|
|
Profit or loss in €²
|
37,174
|
28,628
|
15,810
|
-9,828
|
-14,100
|
-18,373
|
|
Profit or loss in £²
|
32,206
|
24,803
|
13,697
|
-8,514
|
-12,216
|
-15,918
|
|
Profit or loss in C$²
|
59,544
|
45,856
|
25,323
|
-15,742
|
-22,586
|
-29,430
|
- The above calculations are made based on 1.00 lot which is equivalent of 100 units
- Calculations for exchange rate used as of 11:40 (GMT+1) 29/04/2026
You can use risk management tools such as Stop-Loss and Take-Profit.