How easy is it to trade in gold?
It is worth noting that gold is rather "slow", its movements are somewhat slowed down, which is very good for trading. Due to the slow turns of the course, which can take up to several hours, you can make good money on this. The most convenient timeframe for trading on gold is 1 hour. With a smaller expiration period, for example, from 5 to 30 minutes, gold, moving its "unhurried steps" may simply not have time to advance even a few points in the direction that the trader has chosen, and will just linger on the spot. For more confidence in gold trading, you can read news and economic reviews that regularly appear on our website.
What do you need to know before you start trading in gold?
Trading in gold on Forex is possible 24 hours a day, at any time, except for weekends. The fixing of quotations for this precious metal occurs twice a day: at 10.30 AM and 3.00 PM (GMT), and the most effective period is from half past eleven to three o'clock in the afternoon. Gold is traded in ounces (1 ounce is approximately 28.35 grams).
Gold prices are linked to the US dollar. If gold rate increases, dollar rate falls. At transactions closing, all experienced traders pay attention to this important point. Any transaction where the product is gold, is treated exactly the same way as a contract of purchase and sale of currency.
Study the news carefully before concluding each transaction. If there is a crisis in the economy of developed countries, expect a rise in the price of gold. Many investors save their finances from economic instability, investing in gold and thereby increasing the demand for it.
Another precursor to the rise in quotation of gold is the rise in price of oil. At the same time, countries with stable and prosperous economy encourage lowering the price of this metal.
Markets-Invest provides our clients with better conditions for trading in gold, instant order execution and narrow spreads. In addition, having a Gold Deposit, you can use it to freely trade in any other financial instruments. Gold deposit – for your dazzling profit!