GOLD

Special Reports - 14/11/2024

14 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 (NOVEMBER 5): 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 49.22% DURING DONALD TRUMP’S PRESIDENCY 2016 - 2020. Donald Trump was elected 45th President of the USA in 2016 and managed to bring a number of uncertainties, including trade policies and initiating trade wars against China, the EU, Mexico, and Canada. In addition, he slashed corporate taxes to, in a way, inject fiscal stimulus into the economy, which was positive for gold prices back then.

Data Source: Bloomberg Terminal; MetaTrader 4 Platform

Please note that past performance does not guarantee future results

CENTRAL BANKS: INTEREST RATE CUT DECISION

BREAKING (NOVEMBER 7): FEDERAL RESERVE ANNOUNCED ITS SECOND INTEREST RATE CUT IN 2024. The US Federal Reserve decided to cut its benchmark interest rate by 0.50% points in September and 0.25% points in November. The bank expects to cut rates one more time 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: December 18, 2024 at 19:00 GMT. As of November 14, the market sees high chances for 25 basis points interest rates cut. This could bring current rates of 4.75% down to 4.50%.

SEASONAL TRADE: DECEMBER - JANUARY (2014- 2024)

STATISTICS: GOLD ROSE 5.62% ON AVERAGE BETWEEN DECEMBER AND JANUARY (2014- 2024)

Data Source: MetaTrader 4 Platform

Please note that past performance does not guarantee future results

STATISTICS (2022 – 2024): PRICE RECOVERY AFTER CORRECTION LARGER THAN 150 DOLLARS

PRICE DECLINES: WHEN PRICE CORRECTION HAPPENS, GOLD TENDS TO LOSE 8.66% ON AVERAGE
PRICE RECOVERY: GOLD TENDS TO RECOVER TO ITS MOST RECENT TOPS WITHIN 4.25 WEEKS ON AVEARGE
PRICE RECOVERY: GOLD TENDS TO RECOVER BY 9.57% ON AVERAGE

Data Source: MetaTrader 4 Platform

Please note that past performance does not guarantee future results

ANALYST OPINION:

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

GOLD, November 14, 2024
Current Price: 2537

GOLD	Weekly
Trend direction	UP
Resistance 3	3000
Resistance 2	2900
Resistance 1	2600
Support 1	2480
Support 2	2460
Support 3	2440

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 $	46,300	36,300	6,300	-5,700	-7,700	-9,700
Profit or loss in €²	44,055	34,540	5,994	-5,424	-7,327	-9,230
Profit or loss in £²	36,623	28,713	4,983	-4,509	-6,091	-7,673
Profit or loss in C$²	64,881	50,868	8,828	-7,987	-10,790	-13,593

1.00 lot is equivalent of 100 units
Calculations for exchange rate used as of 09:00 (GMT) 14/11/2024

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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