GOLD weekly special report based on 1.00 Lot Calculation:
US POLITICAL TENSIONS:
- FORMER US PRESIDENT TRUMP SURVIVES ASSASSINATION ATTEMPT, WITH POLICTICAL TENSION IN US POLITICS REMAINING HIGH: A recent assassination attempt has lamented escalating tension in the US political scene. Higher political tension has lead to very high uncertainty regarding the future of US politics, and investors may consider a flight to safety to hedge this risk, which could drive gold demand higher.
EVENTS:
- THURSDAY, JULY 18 AT 13:30 GMT+1: US INITIAL JOBLESS CLAIMS: The US will report its weekly initial jobless claims. Jobless claims have been rising, indicating a slowing job market. This could cause a dovish shift in the Federal Reserve’s interest rate stance and may increase gold prices.
- THURSDAY, JULY 25 AT 13:30 GMT+1: US GROSS DOMESTIC PRODUCT (GDP) (Q2) (first preliminary data). The US Economy grew by 1.4% in Q1 of 2024, down from Q4 of 2023 of 3.4%. If the trend continues on, the US Fed may decide to cut its benchmark interest rate. This could potentially increase gold prices.
- FRIDAY, JULY 26 AT 13:30 GMT+1: US CORE PCE PRICE INDEX FOR JUNE. The US will be reporting its core PCE price index for June, which is an important inflation metric that the Federal Reserve uses to determine future policy rates. Core PCE has been declining, and further declines could lead to higher rate cut probabilities, which could positively influence gold prices.
- WEDNESDAY, JULY 31 AT 19:00 GMT+1: US FEDERAL RESERVE INTEREST RATE DECISION. Federal Reserve Bank will meet on July 31, to set the Fed Funds rate target. According to the most recent estimates, some analysts are expecting the Federal Reserve to hold interest rates at the current level of 5.50%, but chances have been rising for a September cut.
GOLD, July 16, 2024
Current Price: 2435
|
GOLD |
Weekly |
|
Trend direction |
|
|
3000 |
|
|
2600 |
|
|
2500 |
|
|
2380 |
|
|
2370 |
|
|
2360 |
Example of calculation base on weekly trend direction for 1.00 Lot1
|
GOLD |
||||||
|
Pivot Points |
||||||
|
Profit or loss in $ |
56,500.00 |
16,500.00 |
6,500.00 |
-5,500.00 |
-6,500.00 |
-7,500.00 |
|
Profit or loss in €2 |
51,829.73 |
15,136.11 |
5,962.71 |
-5,045.37 |
-5,962.71 |
-6,880.05 |
|
Profit or loss in £2 |
43,559.38 |
12,720.88 |
5,011.26 |
-4,240.29 |
-5,011.26 |
-5,782.22 |
|
Profit or loss in C$2 |
77,338.05 |
22,585.45 |
8,897.30 |
-7,528.48 |
-8,897.30 |
-10,266.11 |
1. 1.00 lot is equivalent of 100 units
2. Calculations for exchange rate used as of 09:40 (GMT+1) 16/07/2024
There is a possibility to use Stop-Loss and Take-Profit.
- You may wish to consider closing your position in profit, even if it is lower than suggested one.
- Trailing stop technique could protect the profit.