Background
The fact that we are living in a world of speedy changes nowadays, where stock markets, currency markets, indices and commodities are the quintessence of this so called “phenomenon”, can be considered as a miracle. However, there are certain things, which keep on staying stable and hardly lose any of their value. I am talking about gold.
Gold trading has been discovered back in the ancient times and since that time, has been considered as a clear sign of wealth and luxury. Gold is considered as one of the most valuable commodities people are able to trade on and one of the fewest that kept its intrinsic value over the years. Maybe, this is one of the many reasons why gold became such a popular asset.
Many experts and advisers talk about how low is the involved risk in gold trading when compared with other forms of trading. Even though gold has its price fluctuations (just like any other type of asset has), gold trading is uniquely interesting because of gold’s apparent predictability, clear risks and additional factors that influence its price. It is much easier for traders to identify a so called “trend” on gold and to win a “golden cup”, especially when combining gold trading with the ease and simplicity of online binary options.
So, if gold trading using binary options is indeed as interesting as mentioned above, let’s start making you feel a little bit more confident about it.
Factors, Trends & Strategy
Gold has a complex interaction almost with all currencies: every country has its own gold reserve, and there is a constant exchange between them. You should always keep in mind that the most obvious correlation occurs with the US dollar and the Aussie(Australian dollar). The rising US dollar reduces gold’s cost and vice versa. However, this dependence is mostly observed in the case of sudden jumps of USD mostly, due to important market events and news. Australia is one of the world leaders in gold production, and traditionally, its currency has a direct correlation with the price of gold: their value tends to grow together.
Classic gold trading provides long-term deals, because the market doesn’t provide an immediate answer on an event that is associated with a possible gold’s cost changes. However, as I previously said, the price of gold can vary by 50 points in a minute, and this is absolutely suitable for binary options trading, where your main objective is to predict the movement of the asset. One of the best ways to avoid any risk is to perform a technical and fundamental analysis and compare the results with gold’s latest market trend.
Risk Statement: Trading Foreign Exchange on margin carries a high level of risk and may not be suitable for all investors. The possibility exists that you could lose more than your initial deposit. The high degree of leverage can work against you as well as for you.
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