GOLD weekly special report based on 1.00 Lot Calculation:
EVENTS:
- FRIDAY, DECEMBER 6 AT 13:30 GMT: US NONFARM PAYROLLS AND UNEMPLOYMENT RATE (NOVEMBER). The US Unemployment rate is expected to stay above 4%. This could further support market expectations that the Fed could cut interest rates by 25 basis points in December.
- WEDNESDAY, DECEMBER 11, AT 13:30 GMT: U.S INFLATION (CPI) (NOVEMBER): The U.S is scheduled to report its CPI figure for the month of November. The CPI inflation data from the last month of October came out at 2.6%, up from the 2.4% in September. If it comes below the recent 2.6%, then Gold could be expected to rise in value.
US FEDERAL RESERVE HAS BEGUN YET ANOTHER INTEREST RATE CUT CYCLE:
- BREAKING (NOVEMBER 7): FEDERAL RESERVE ANNOUNCED ITS SECOND INTEREST RATE CUT IN 2024. 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 December 2, 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
ANALYST OPINION:
- Citigroup targets $3,000; Bank of America targets $3,000; UBS targets $2,900. Goldman Sachs targets $2,900.
GOLD, December 2, 2024
Current Price: 2640
|
GOLD |
Weekly |
|
Trend direction |
|
|
3000 |
|
|
2900 |
|
|
2700 |
|
|
2590 |
|
|
2570 |
|
|
2550 |
Example of calculation base on weekly trend direction for 1.00 Lot1
|
Pivot Points |
||||||
|
Profit or loss in $ |
36,000 |
26,000 |
6,000 |
-5,000 |
-7,000 |
-9,000 |
|
Profit or loss in €2 |
34,226 |
24,719 |
5,704 |
-4,754 |
-6,655 |
-8,557 |
|
Profit or loss in £2 |
28,347 |
20,473 |
4,724 |
-3,937 |
-5,512 |
-7,087 |
|
Profit or loss in C$2 |
50,529 |
36,493 |
8,422 |
-7,018 |
-9,825 |
-12,632 |
- 1.00 lot is equivalent of 100 units
- Calculations for exchange rate used as of 13:50 (GMT) 02/12/2024
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.