Gold Trading During Waiting For US Presidential Election Result
- 2020-11-03
On Monday, gold rose about $ 22 per ounce during the US presidential election awaited.
The results of the US presidential election will be announced on November 3, 2020 in the United States with two candidates, Donald Trump and Joe Biden.
And Today is the day before the results are released, we can see that the price of gold continues to rise to a high range of 1912.
However, whether Donald Trump is elected or Joe Biden is elected, what we expect the next president to do have two important factors are:
Money Stimulus into the market
Production of Covit-19 Vaccine
Both of these factors are important for the current US economic outlook. After the US presidential election results, we see a long-term investment that the price of gold may fall to 1770 or 1660 after the new US president announced both factors above.
If we look at the risk for today in the European Union and the United Kingdom, there is another outbreak of Coovid-19 infection, which led to the close of the gates again.
For today’s trading, investors should trade in gold between 1880 and 1907 before the US presidential election results are announced.
Recommendations for trading:
With the expectation that the market will continue to trade between the price of demand (1880) and supply (1907), investors can trade:
- Buy Option：
– Enter Market At Price $1880
– Set Stop Loss At Price $1870
– Set Take Profit At Price $1900
- Sell Option：
– Enter Market At Price $1907-$1913
– Set Stop Loss At Price $1917
– Set Take Profit At Price $1890
Analyzed by: Mr. Vuthserey Youtheara,Independent Analyst