Gold weekly special report based On 1.00 Lot Calculation:
- EVENT (FRIDAY, AUGUST 25 AT 15:05 GMT+1): FED CHAIR JEROME POWELL SPEAKS AT THE JACKSON HOLE SYMPOSIUM. The Federal Reserve's Jackson Hole Economic Symposium is a three-day annual international conference put on by the Federal Reserve Bank of Kansas City at Jackson Hole in the United States attended by central bank leaders from around the world. This year’s theme is “Structural Shifts in the Global Economy” and it will take place from August 24 to August 26.
- STATISTICS (2018- 2022): GOLD PRICE REACTION TO JEROME POWELL SPEECH’S. Jerome Powell became Fed Chair in 2018 and every year since than he would speak at the Jackson Hole Symposium event. Four of his five appearances were positive for the Gold prices as shown by the table below.
1. 80% (4 OUT OF 5) OF THE TIME GOLD PRICES HAD GONE UP WHEN MR. POWELL SPEAKS.
2. AVERAGE PRICE INCREASE: +$27.69.
Data Source: Meta Trade 4 Platform
*Please note that past performance does not guarantee future results.
- CENTRAL BANKS CONTINUE TO BREAK RECORDS WITH GOLD BUYING FRENZY: According to reports, central banks have bought the most amount of gold in H1 (First Half) of 2023 than any other H1 period in history, buying 387 tons of the metal. The record buying continues to show gold demand remains resilient and could be a catalyst for future price appreciation.
- STRONG SUPPORT AT $1900: Gold has respected the support of $1900 since the beginning of 2023, testing levels below $1900 only three times this year.
*Please note that past performance does not guarantee future results.
GOLD, August 23, 2023
Current Price: 1900
|
GOLD |
Weekly |
|
Trend direction |
|
|
2000.00 |
|
|
1985.00 |
|
|
1945.00 |
|
|
1860.00 |
|
|
1850.00 |
|
|
1840.00 |
Example of calculation based on weekly trend direction for 1.00 Lot
|
Gold |
||||||
|
Pivot Points |
||||||
|
Profit or loss in $ |
10,000 |
8,500 |
4,500 |
-4,000 |
-5,000 |
-6,000 |
|
Profit or loss in €2 |
9,245 |
7,859 |
4,160 |
-3,698 |
-4,623 |
-5,547 |
|
Profit or loss in £2 |
7,887 |
6,704 |
3,549 |
-3,155 |
-3,943 |
-4,732 |
|
Profit or loss in C$2 |
13,551 |
11,518 |
6,098 |
-5,420 |
-6,775 |
-8,130 |
1. 1.00 lot is equivalent of 100 units
2. Calculations for exchange rate used as of 09:30 (GMT+1) 23/08/2023
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