Trading time (UK time) Sunday 11:00 PM - Friday 10:00 PM
(Closes daily between 10:00 PM - 11:00 PM UK time)
* Only if Margin Level > 100%
TNXTrade provides an opportunity to trade CFDs on GOLD.
First of all, GOLD is affected by seasonality, trading activity growth, and downturns throughout the day. Also, Gold trading decisions should be taken based on data from the Economic Calendar: it makes sense to follow the USA and China statistics. As for the global trend, it still looks growing on the scale of weekly candles over thirty years.
GOLD, in comparison with major currencies, sometimes has a negative correlation. During the downtrend of the main currency pairs, clients are used to trade Gold as well, expecting rises in price. Also, from time to time, the Australian dollar quotes have a positive correlation with GOLD chart.
The popularity of Gold trading is growing along with the news of the microelectronics development (computers and mobile gadgets production), as well as the traditional use of this metal in the chemical industry.
In banks and foreign exchange reserves, GOLD is stored in bars or coins, which correspond to an indicator of 999.99 gold content, or 24 carats. There is even more pure quality – 99.999, but such samples are very costly since the cleaning procedure is rather complicated.
It is important to follow the news of metal-mining companies and the global situation around USD. That will allow you to draw up a responsible trading plan.
Traders can often observe some kind of correlation between the growth of non-ferrous metals' prices and GOLD during the economic boom, and a possible decrease in demand during the financial crisis.
The yuan regularly correlates with GOLD quotes due to the superiority of China in the volume of its mining. The second place belongs to Australia; the continent has the largest proven reserves of this precious metal. Russia is in third place.
You can trade GOLD on MT4, MT5, cTrader and TNXTrade Trading mobile platform (inside the TNXTrade Direct App).
Scroll through the chart above and discover actual Bid and Ask prices of CFD on GOLD on the global market, as well as the historical performance and volatility of this asset. This information can be used to make informed trading decisions.
Gold trading with TNXTrade starts from simple registration. Just click the “Register” button at the top of the page and follow the prompts. Then, you will have an ability to fund your new account: several convenient online methods with 0% commissions are available.
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