CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 77% 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.
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 76% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money.
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Gold price is falling -0.8%

Fast Moving Market - 15/01/2021

15 January, 2021

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.

NEWS: Gold price decreased 0.8%. Gold futures slid Friday as the U.S. dollar firmed and investors were parsing President Joe Biden’s $1.9 trillion COVID-19 relief plan. Gold has been particularly sensitive to moves in the U.S. dollar and a rise in government debt yields, which can undercut appetite for precious metals.

Possible Scenarios:

If Gold fails to breach through S2 of 1822.32, our Research Department expects the Gold to undergo a short-term upward correction.

If Gold manages to break below its S2 of 1822.32, our Research Department expects the Gold to extend its losses to its S3 of 1810.06

Support and Resistance Levels:

Gold

S3

S2

S1

Reference Price

R1

R2

R3

1810.06

1822.32

1834.58

1850.93

1867.28

1879.54

1891.80

Potential Profit or Potential Loss Calculations:

1 dollar per 1 trading lot*

USD

EUR**

GBP***

(+/-) $100

(+/-) €82.21

(+/-) £73.28

*1 trading lot is equivalent of 100 units
**EUR/USD = 1.21642
***GBP/USD = 1.36465
Calculations for exchange rate used as of 15:20 (GMT) 15/01/2021

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Risk Warning and Disclaimer: CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 77% 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

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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 Investment Industry Regulatory Organization of Canada (IIROC) 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.

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