CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 71% 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. 70.91% 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 all your money. Read full risk warning.
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Special Reports - 12/06/2023

12 June, 2023

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:

  • EVENT: (United States Inflation Data, June 13th, 2023, GMT+1 13:30): The United States will report its CPI and Core CPI figures for May. April’s CPI came in at 4.9%, Year-over-Year, well below its peak of 9.1% peak several months ago. The current market expectation for CPI is 4.1% (Source: Bloomberg), with falling inflation historically having a positive impact on gold prices.
  • EVENT: (Federal Reserve Interest Decision, June 14th, 2023 GMT+1 19:00): The Federal Reserve Bank will meet on June 14th to set the Fed Funds rate target. According to the most recent estimates, analysts are expecting the Federal Reserve to pause interest rate hikes and leave the rate at 5.25%, which could benefit gold prices.
  • ANALYSIS: Gold remains a safe haven asset in times of uncertainty, and concerns about the global banking system could drive more investors towards Gold.
  • ANALYSTS OPINION: Citigroup set $2,300 as its 2023 price target for Gold. Saxo Bank is forecasting $3,000 for Gold in 2023
  • GOLD PRICE ACTION: Gold reached $2078.17 in early 2023.

GOLD, June 12th, 2023
Current Price:1964

GOLD

Weekly

Trend direction

UP

Resistance 3

2100.00

Resistance 2

2050.00

Resistance 1

2000.00

Support 1

1930.00

Support 2

1910.00

Support 3

1900.00

GOLD

Pivot Points

Resistance 3

Resistance 2

Resistance 1

Support 1

Support 2

Support 3

Profit or loss in $

13,600.00

8,600.00

3,600.00

-3,400.00

-5,400.00

-6,400.00

Profit or loss in €2

12,617.71

7,978.85

3,339.98

-3,154.43

-5,009.97

-5,937.75

Profit or loss in £2

10,807.37

6,834.08

2,860.78

-2,701.84

-4,291.16

-5,085.82

Profit or loss in C$2

18,121.73

11,459.33

4,796.93

-4,530.43

-7,195.39

-8,527.87

1. 1.00 lot is equivalent of 100 units

2. Calculations for exchange rate used as of 11:30 (GMT+1) 12/06/2023
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.

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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. 71% 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 Canadian Investment Regulatory Organization (CIRO) 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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Risk Warning and Disclaimer: CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 70.91% 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. Fortrade Cyprus Ltd is regulated and supervised by the Cyprus Securities and Exchange Commission (CySEC) with CIF license number 385/20. CFD products may not be suitable for all clients, therefore ensure, that you understand the risks involved 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.

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