Gold

Gold weekly special report based On 1.00 Lot Calculation:

• EVENT (FRIDAY, SEPTEMBER 1 AT 13:30 GMT+1): U.S. NONFARM PAYROLLS AND UNEMPLOYMENT RATE (AUGUST). The NFP is expected to show a decline from July’s 187,000. The Unemployment Rate is expected to remain unchanged at 3.5%.

• EVENT (WEDNESDAY, SEPTEMBER 13 AT 13:30 GMT+1): U.S. INFLATION (AUGUST). The U.S. Inflation is now down from 9.1% in summer 2022 to July’s 3.2%. Core Inflation, on the other hand, fell to 4.7% in July, from previous 4.8%.

• EVENT (WEDNESDAY, SEPTEMBER 20 AT 19:00 GMT+1): U.S. FEDERAL RESERVE INTEREST RATE DECISION. Federal Reserve raised interest rates to 5.50% last time (Its highest in 22 years). Fed Chair Powell said that they will go meeting by meeting depending on data to see if more hikes will be needed. He kept the door open, though, for a stop in September. According to the CMEGROUP.COM*, the markets assign 90.5%** of probability to an outcome that will see no changes in interest rates in September.

• 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 30, 2023
Current Price: 1940

Example of calculation based on weekly trend direction for 1.00 Lot

1. 1.00 lot is equivalent of 100 units

2. Calculations for exchange rate used as of 14:15 (GMT+1) 30/08/2023

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.