GOLD weekly special report based on 1.00 Lot Calculation:
GEOPOLITICS TO SUPPORT DEMAND FOR SAFE-HAVEN INSTRUMENTS
- RUSSIA TENSIONS WITH THE WEST RISE AS U.S. ALLOW UKRAINE TO USE THEIR WEAPONS FOR LONG- RANGE TO STRIKE RUSSIAN TERRITORY INSIDE. President Vladimir Putin said that the West would be directly fighting with Russia if it allowed Ukraine to strike Russian territory with Western-made long-range missiles, a move he said would alter the nature and scope of the conflict. This could increase worries over potential broader escalation in the region after two and a half years of mainly isolated conflict. This in turn could increase demand for safe- haven instruments such as Gold, which rose more than 160 dollars back in February 2022, when the Ukrainian- Russian conflict began first.
US PRESIDENTIAL ELECTIONS: THE AFTERMATH
- 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
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 18, 2024
Current Price: 2600
|
GOLD |
Weekly |
|
Trend direction |
|
|
3000 |
|
|
2900 |
|
|
2670 |
|
|
2540 |
|
|
2520 |
|
|
2500 |
Example of calculation base on weekly trend direction for 1.00 Lot1
|
Pivot Points |
||||||
|
Profit or loss in $ |
40,000 |
30,000 |
7,000 |
-6,000 |
-8,000 |
-10,000 |
|
Profit or loss in €2 |
37,925 |
28,444 |
6,637 |
-5,689 |
-7,585 |
-9,481 |
|
Profit or loss in £2 |
31,698 |
23,774 |
5,547 |
-4,755 |
-6,340 |
-7,925 |
|
Profit or loss in C$2 |
56,347 |
42,260 |
9,861 |
-8,452 |
-11,269 |
-14,087 |
1. 1.00 lot is equivalent of 100 units
2. Calculations for exchange rate used as of 14:00 (GMT) 18/11/2024
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.