Trading in gold prices
Gold is the currency of:
In the foreign exchange market, gold is considered a kind of currency. Can be traded in the same way Kalamlat other. But there is a difference, not only gold can be traded against the U.S. dollar (USD).
Universally accepted code of gold is XAU. Zip author of X of foreign exchange (Forex) and the chemical symbol for gold (AU).
Trading price of gold:
The price of gold is measured according to weight. Price shows you how much it costs to buy one ounce of gold in U.S. dollars. There are many ways to measure the weight in the market of precious stones and metals. The most common way is Altroysa weight – equivalent to approximately 31.10 troy ounce gram, while the ounce weight of 28.35 grams Avoardeboi Faadel.
For example: The price of gold was 612.97, it means that an ounce of gold traded compared to 612.97 U.S. dollars.
Trading gold prices:
Investing in gold is the same way foreign currencies. Are traded directly between the seller and the buyer (via online trading platform), and does not interfere other persons or companies.
Such as foreign exchange rates, gold prices trading does not require the purchase or sale “actual” real article. Using the previous example, if you purchased gold in foreign currency at a price of $ 612.97, you do not have an ounce gold you can keep them, but rather have a commitment to buying XAU at a price of 612.97 dollars. When you close your transaction in a foreign currency, you sell the XAU (gold) and end your obligation. If you sold at a price of $ 615.00, so the profit gained by $ 3.03 per ounce (unit) of gold in your contract.
Gold prices affect the currency:
A rising gold prices impact on other currencies. Could be the high gold prices is particularly important on the currencies of the countries major gold producer. Australia is the third largest exporter of gold in the world, and Canada’s third-largest gold producer in the world. So, if you think that the price of gold will continue to rise, you can engage in trades in the Canadian or Australian dollar because of the potential improvement in these two currencies.
In the foreign exchange market, gold is considered neutral – this means that gold is not tied to any country, so the rise in its price affects the trading on several currencies. Gold prices can rise when changing economic and political situation in the United States. If the price of gold began to rise, you can expect to rise further in the period following the circulation, and with this belief may decide to traders selling the dollar and buying the euro because they believe that the U.S. dollar will decline in value and the euro will rise.
Gold prices are an important motivation for the foreign exchange market.
In order to intervene in the process of foreign currencies in gold (XAU), Unlock free account.
(Easy-Forex) and trading in gold:
Mtagroa (Easy-Forex) who want to engage in trading in gold prices can look at Gold (XAU) as they look to any other foreign currency, which are traded only against the U.S. dollar (USD), but all other aspects of the process are the same. Learn more about how to do daily trading, gold and silver.
Please note that trading in gold and silver will begin on Sunday at 11:15 at night GMT and ends on Friday at 10 pm GMT. Are traded globally in gold is something more between the hours of 1:00 and 5:30 pm GMT, from Monday till Friday, and the difference between the sale price and the purchase is usually higher in the off-hours trading.