Trading Strategy for September 14, 2023
Today, the global gold market saw some ups and downs. Spot gold prices dropped to $1,908.2 per ounce, and futures settled at $1,932.5 per ounce. This was influenced by recent U.S. inflation data.
Specifically, the U.S. Consumer Price Index (CPI) for August showed a 3.7% increase compared to the previous year, and the core CPI (excluding food and energy) rose by 4.3%. These numbers exceeded expectations and raised concerns about inflation.
Impact on Gold:
Interest Rates: Higher CPI data has made people think the U.S. Federal Reserve (Fed) might raise interest rates sooner than expected. Gold tends to react to interest rate changes because higher rates can make gold less attractive compared to other investments.
Trading Strategy:
BUY XAUUSD BETWEEN $1,906 - $1,909
Stop Loss: $1,904
Take Profit 1: $1,915
Take Profit 2: $1,920
Take Profit 3: $1,925
SELL XAUUSD BETWEEN $1,928 - $1,931
Stop Loss: $1,933
Take Profit 1: $1,920
Take Profit 2: $1,915
Take Profit 3: $1,910
Remember: Use only 1% of your account balance to manage your capital. Avoid investing more than 5% of your capital within the closest 10 price points. Always set stop-loss orders. Trade according to your current capital level.
Today, the global gold market saw some ups and downs. Spot gold prices dropped to $1,908.2 per ounce, and futures settled at $1,932.5 per ounce. This was influenced by recent U.S. inflation data.
Specifically, the U.S. Consumer Price Index (CPI) for August showed a 3.7% increase compared to the previous year, and the core CPI (excluding food and energy) rose by 4.3%. These numbers exceeded expectations and raised concerns about inflation.
Impact on Gold:
Interest Rates: Higher CPI data has made people think the U.S. Federal Reserve (Fed) might raise interest rates sooner than expected. Gold tends to react to interest rate changes because higher rates can make gold less attractive compared to other investments.
Trading Strategy:
BUY XAUUSD BETWEEN $1,906 - $1,909
Stop Loss: $1,904
Take Profit 1: $1,915
Take Profit 2: $1,920
Take Profit 3: $1,925
SELL XAUUSD BETWEEN $1,928 - $1,931
Stop Loss: $1,933
Take Profit 1: $1,920
Take Profit 2: $1,915
Take Profit 3: $1,910
Remember: Use only 1% of your account balance to manage your capital. Avoid investing more than 5% of your capital within the closest 10 price points. Always set stop-loss orders. Trade according to your current capital level.
