The opportunity to trade Gold and precious metals is now within the reach of private individuals via the easy-forex trading platform. Much like currency trading, leverage can be used to enter into deals.
The trading abbreviation for gold is XAU. Gold quantities are expressed in ounces and are traded against the United States Dollar (USD) only.
Price of gold
The ‘spot’ price of gold is the going rate for a direct transfer of gold for cash. The current spot price is generally used as the benchmark gold value. The price of gold has an inverse relationship with the USD, meaning that as the gold price rises, the price of the USD falls. This is why buying gold has historically been a good way to hedge against inflation, as the gold value tends to hold over time.
Similar to trading currencies like the sterling pound, gold spot is an “over the counter” market. This means trading does not take place at an exchange, but traders rather come together on their own terms. Also like currency trading, online trading in gold with easy-forex is ‘cash’ settled, meaning there is no physical receipt of the underlying physical product.
High frequency Gold trading
Over recent years, the price for gold has been quite volatile, making spot gold a popular day-trading product. With easy-forex you can open positions in gold using the day-trading option to trade gold at spot prices.
Learn to Trade Gold Today
easy-forex UK provide a wide range of Free Forex & Gold Trading Training courses, whether you are a beginner or professional our Brokers and Analysts will work with you learn the key gold trading techniques and strategies. Gold Trading just got easier thanks to easy-forex.
- Training Webinars
- Metatrader 4 Tutorials
- Gold Trading Strategies
- Understand the Charts and Indicators
- Beginner and Pro Training