Gold

Special Reports - 06/11/2024

06 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

US PRESIDENTIAL ELECTION 2024: DONALD TRUMP (R) WINS OVER KAMALA HARRIS (D). Donald Trump has become the 47th president of the USA and the markets are now expected to focus on his next steps once he takes office.
STATISTICS: GOLD ROSE 49.20% DURING DONALD TRUMP’S FIRST PRESIDENTIAL TERM (2016 – 2020). During his presidency 2016-2020, Donald Trump injected more fiscal stimulus by cutting corporate taxes and increased the geopolitical tensions by engaging in trade war with China, the EU, Canada, Mexico and other countries. He also pulled the USA out of the nuclear agreement with Iran and put soil and economic sanctions on Iran. Gold prices rose from $1,282 in November 2026 to $1,913 in November 2020.

Data Source: Bloomberg Terminal; MetaTrader 4 Platform

Please note that past performance does not guarantee future results

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

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 6, 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 6, 2024
Current Price: 2660

GOLD	Weekly
Trend direction	UP
Resistance 3	3000
Resistance 2	2900
Resistance 1	2750
Support 1	2580
Support 2	2570
Support 3	2550

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 $	34,000	24,000	9,000	-8,000	-9,000	-11,000
Profit or loss in €²	31,612	22,315	8,368	-7,438	-8,368	-10,228
Profit or loss in £²	26,349	18,599	6,975	-6,200	-6,975	-8,525
Profit or loss in C$²	47,252	33,354	12,508	-11,118	-12,508	-15,287

1. 1.00 lot is equivalent of 100 units

2. Calculations for exchange rate used as of 13:25 (GMT) 06/11/2024

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.

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