Gold

Special Reports - 04/11/2024

04 November, 2024

The example below uses Contracts For Difference (CFDs). Calculations are only on the price of the specific instrument on the date below and calculations indicate a possible profit or loss. No representation or warranty is given as to the accuracy or completeness of this information, consequently any person acting on it does so entirely at their own risk.

GOLD weekly special report based on 1.00 Lot Calculation:

GEOPOLITICS TO SUPPORT DEMAND FOR SAFE-HAVEN INSTRUMENTS

U.S. PRESIDENTIAL ELECTIONS (NOVEMBER 5): UNCERTAINTIES RISE AS POLLS SHOW NEITHER DONALD TRUMP NOR KAMALA HARRIS AS A CLEAR FAVORITE TO WIN THE ELECTIONS. Gold kept testing fresh all-time highs, while silver trades at the highest in 12 years. Gold has risen more than 30% in 2024, while Silver has gained more than 37% in 2024.
STATISTICS: GOLD ROSE ON AVERAGE 4.51% AFTER ELECTIONS WHEN DONALD TRUMP OR KAMALA HARRIS ARE INVOLVED. Donald Trump was elected 45th President of the USA in 2016, while Kamala Harris was elected Vice President in the Biden administration in 2020.

Data Source: Bloomberg Terminal; MetaTrader 4 Platform

Please note that past performance does not guarantee future results

GOLD’S ROLE IN THE WORLD OF INVESTMENTS: Investors tend to purchase Gold in times of distress due to Gold’s ability to store value through time, political uncertainties rise in the USA, market participants shift to Gold to protect their investments. To this end, gold prices could be expected to rise in value in the period ahead. However, they could also decline.

CENTRAL BANKS: INTEREST RATE CUT DECISION

BREAKING (SEPTEMBER 18): FEDERAL RESERVE ANNOUNCED ITS FIRST INTEREST RATE CUT SINCE 2020. US Federal Reserve decided to cut its benchmark interest rate by 0.50% points on September 18, to 5.00% from the previous 5.50%. The bank expects to cut rates two more times in 2024 to slash its benchmark rate to 4.5% by the end of 2024. The bank expects rates to fall to 3.5% in 2025 and further down to 2.9% in 2026.
NEXT FED INTEREST RATE DECISION: November 7, 2024 at 19:00 GMT. As of November 4, the market sees higher chances for 25 basis points interest rates cut. This could bring current rates of 5.00% down to 4.75%.

ANALYST OPINION:

Citigroup targets $3,000; Bank of America targets $3,000; UBS targets $2,900. Goldman Sachs targets $2,900.

GOLD, November 4, 2024
Current Price: 2740

GOLD	Weekly
Trend direction	UP
Resistance 3	3000
Resistance 2	2900
Resistance 1	2800
Support 1	2690
Support 2	2670
Support 3	2650

Example of calculation base on weekly trend direction for 1.00 Lot¹

Pivot Points	Resistance 3	Resistance 2	Resistance 1	Support 1	Support 2	Support 3
Profit or loss in $	26,000	16,000	6,000	-5,000	-7,000	-9,000
Profit or loss in €²	23,864	14,685	5,507	-4,589	-6,425	-8,260
Profit or loss in £²	20,044	12,335	4,626	-3,855	-5,397	-6,938
Profit or loss in C$²	36,180	22,265	8,349	-6,958	-9,741	-12,524

1. 1.00 lot is equivalent of 100 units

2. Calculations for exchange rate used as of 10:30 (GMT) 04/11/2024

There is a possibility to use Stop-Loss and Take-Profit.

You may wish to consider closing your position in profit, even if it is lower than suggested one.
Trailing stop technique could protect the profit.

Share It With Your Network

GOLD Chart

Update Time: -

Highest

Lowest

Bid Price Ask Price

1M 5M H D W

Prices are loading..

Other Special Reports

Palladium 19 November, 2024

Palladium weekly special report based on 1.00 Lot Calculation: TECHNICAL ANALYSIS: BREAKING: PALLADIUM...

Crude Oil 18 November, 2024

Crude Oil weekly special report based on 1.00 Lot Calculation: TECHNICAL ANALYSIS: CRUDE OIL PRICES HAVE...

NETFLIX (#NFLX) 18 November, 2024

NETFLIX (#NFLX) weekly special report based on 1 Lot Calculation: HISTORICAL PERFORMANCE: STOCK PERFORMANCE...

Ready for trading?Start Now

Daily market review & analysis Daily EU Session & US Session Analysis for CFD Instruments

Weekly Analysis Weekly Overview of CFD Movements

Technical Analysis Trading Central Technical Analysis System

Fortrade Ltd is authorised and regulated in the UK by FCA under the licence number 609970.

Risk Warning and Disclaimer: CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 67% 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. Be Aware: You can lose all, but not more than the balance of your Trading Account. These products may not be suitable for all clients therefore ensure you understand the risks and seek independent advice. This material does not constitute an offer of, or solicitation for, a transaction in any financial instrument. Fortrade accepts no responsibility for any use that may be made of the information and for any consequences that result. No representation or warranty is given as to the accuracy or completeness of this information, consequently any person acting on it does so entirely at their own risk. See full risk warning

Risk warning Privacy policy

Risk Warning and Disclaimer: CFDs and margin FX are leveraged products that carry a high level of risk to your capital. You should only trade with money you can afford to lose. Be Aware: You can lose all, but not more than the balance of your Trading Account. You do not own, or have any rights to, the underlying assets. Past performance is no guarantee of future performance. This information is intended to be general in nature and is not financial product advice. Any advice contained on this website or provided to you by Fort Securities Australia Pty Ltd is general advice only and has been prepared without considering your objectives, financial situation or needs. Before acting on any information, you should consider the appropriateness of the information provided and the nature of the relevant financial product having regard to your objectives, financial situation and needs. We encourage you to obtain independent financial advice and consider our Financial Services Guide (FSG), Product Disclosure Statement (PDS) and Target Market Determination (TMD) to determine if this product is suitable for you before deciding to enter into or obtain any financial products issued by us.

This material does not constitute an offer of, or solicitation for, a transaction in any financial instrument. Fortrade Australia accepts no responsibility for any use that may be made of the information and for any consequences that result. No representation or warranty is given as to the accuracy or completeness of this information, consequently any person acting on it does so entirely at their own risk.

Fort Securities Australia Pty Ltd (T/A Fortrade Australia) |ABN: 33 614 683 831 | AFSL: 493520

Risk warning Privacy policy

CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money. Be Aware: You can lose all, but not more than the balance of your Trading Account. These products may not be suitable for all clients therefore ensure you understand the risks and seek independent advice. You do not own, or have any interest in, the underlying assets. Fortrade Canada Limited is an Order Execution Only broker, and does not provide investment advice or recommendation. Fortrade is a member of the Canadian Investment Regulatory Organization (CIRO) and a member of the Canadian Investor Protection Fund (CIPF). Fortrade Canada Limited is authorised to provide CFD trading services in all provinces in Canada except Quebec. Residents of Alberta province are required to be Accredited Investors to trade CFDs.

Risk warning Privacy policy

Fortrade Canada Limited, 1200 Waterfront Centre, 200 Burrard Street, P.O. Box 48600, Vancouver BC V7X 1T2, Canada. Email: [email protected]
Fortrade Canada Limited is regulated by the Canadian Investment Regulatory Organization (CIRO) and a member of the Canadian Investor Protection Fund (CIPF). Company registration number: BC1148613.
Click here to see Fortrade Canada Limited on the CIRO website.

Regulated and supervised by the Cyprus Securities and Exchange Commission (CySEC) with CIF license number 385/20.

Risk Warning and Disclaimer: CFDs are complex and highly speculative instruments, which come with a high risk of losing money rapidly due to leverage. 75% 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 all your invested capital.

The information on this site is not directed at residents of the United States or Belgium and is not intended for distribution to, or use by, any person in any country or jurisdiction where such distribution or use would be contrary to local law or regulation.

Risk warning | Privacy policy

Authorised and regulated by Financial Services Commission, Mauritius (FSC), SEC-2.1B investment dealer number: GB21026472.

Risk Warning and Disclaimer: CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money. These products may not be suitable for all clients therefore ensure you understand the risks and seek independent advice. You can lose all the balance of your trading account, but not more than that, due to Fortrade’s negative balance protection.

Risk warning | Privacy policy

Daily market review & analysis Weekly Analysis Technical Analysis Micro Analysis Special Reports Economic Calendar Publications

Main Site