Silver weekly special report based On 1.00 Lot Calculation:
- EVENT: (Federal Reserve Interest Decision, December 13th, 2023 GMT 19:00): The Federal Reserve Bank will meet on December 13th to set the Fed Funds rate target. According to the most recent estimates, analysts are expecting the Federal Reserve to once again hold interest rates at the current level of 5.50%.
- EVENT (FED Chair Jerome Powell speaks, December 1, 2023 GMT 16:00): Fed Chair Jerome Powell will have a chance to say more on current monetary policy at a Fireside Chat on Friday.
- ANALYSIS: Investors continued to track the sharp increase for US Treasury securities as evidence of a slowing economy eased investors’ concerns of an overly hawkish Federal Reserve. The latest price data showed that consumer inflation fell more than expected while rising unemployment claims pointed to some softening in the labor market. Concerns over the supply of industrial silver against the backdrop of robust demand also lifted prices. The Silver Institute stated that global mined silver production is expected to drop by 2% in 2023, largely due to lower output from key producers Mexico and Peru. In the meantime, rising investment in solar panels, power grids, and 5G networks drove market players to forecast an 8%-10% increase in silver demand.
- SILVER PRICE ACTION: Silver reached $30.00 in 2021.
Silver, November 27, 2023
Current Price: 24.70
SILVER |
Weekly |
Trend direction |
|
27.00 |
|
26.50 |
|
25.70 |
|
23.70 |
|
23.00 |
|
22.50 |
Example of calculation based on weekly trend direction for 1.00 Lot
SILVER |
||||||
Pivot Points |
||||||
Profit or loss in $ |
23,000.00 |
18,000.00 |
10,000.00 |
-10,000.00 |
-17,000.00 |
-22,000.00 |
Profit or loss in €2 |
21,020.98 |
16,451.20 |
9,139.56 |
-9,139.56 |
-15,537.25 |
-20,107.02 |
Profit or loss in £2 |
18,242.89 |
14,277.05 |
7,931.69 |
-7,931.69 |
-13,483.88 |
-17,449.72 |
Profit or loss in C$2 |
31,376.37 |
24,555.42 |
13,641.90 |
-13,641.90 |
-23,191.23 |
-30,012.18 |
1. 1.00 lot is equivalent of 10000 units
2. Calculations for exchange rate used as of 10:00 (GMT+1) 27/11/2023
Fortrade recommends the use of Stop-Loss and Take-Profit, please speak to your Senior Account ManagerClient Manager regarding their use.
- You may wish to consider closing your position in profit, even if it is lower than suggested one.
- Trailing stop technique can protect the profit – Ask your Senior Account ManagerClient Manager for more details.