Gold (XAUUSD) Trades At Record Levels
Key Points Market Overview It’s been a quiet be...ursday. This may be good for retail […]
Published on: 23 Sep 2024
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HowToTrade.com provides our readers with a daily market analysis for Gold (XAU/USD), including the latest gold news, gold price, updates, and price forecasts from our trading experts.
CFDs are ideal instruments for those looking to engage in short-term gold trading. Trading CFDs enables you to speculate on gold prices without having to physically own the asset. If you are interested in trading Gold CFDs, here’s what you need to do:
Gold prices are influenced by supply and demand. This includes the mining production on the supply side and global industrial demand for gold on the demand side. However, since Gold has been used for decades as a safe-haven asset, the price of gold is also highly influenced by inflation, interest rates, economic uncertainty, and geopolitical instability.
Typically, short-term traders look for overlaps between the North American and European trading sessions. During this time, there is a high trading volume and volatility. Key economic data and crucial financial events are also normally published around these hours.
Trading gold can be done in several different ways. Traders can buy gold physically and store their gold coins or bullion bars. Alternatively, trading Gold can also be done via derivatives, such as futures contracts, options, or CFDs. Another option is to trade Gold by buying and selling ETFs and stocks that track or relate to gold’s price.
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