Gold Trading Forex.In spite of their belonging to the precious metals gold is also the subject of intense speculation in the forex market.
gold on the FX Trade conducted in the trader terminal through the currency pair XAUUSD and technically nothing is not particularly different from that of other instruments.
You also expose urgent and pending orders and can use all the available tools of technical analysis in trading.
Currency pair XAUUSD consists of two assets, the base of which is of course in favor of gold and US dollar quoted. That is, you trade gold for US dollars, regardless of the currency of your deposit. Just trade can also use the currency pair XAUEUR, this option is ideal if you are working in the European trading session and use the current news in their work.
Unlike many other currency pairs trading volumes are calculated not in standard lots and monetary units, and Trinity ounces, it is an ounce of gold is 28.5 grams, and in one lot includes 100 gold ounces. At the conclusion of transactions in one lot you work 2 850 grams of metal, that at the present rate in the region of 130 000 dollars.
In this case, thanks to double-digit total quotation there is a low cost item, only about 1 dollar at a volume of 1 lot.
Gold selling is more suitable for traders who prefer a dynamic trading, the precious metal is sometimes manages to go a day more than 1,000 items and only in one direction.
A distinctive feature of this type of trading, a relatively stable trend, if it has been a bullish trend, it will continue for at least several hours.
If we talk about the strategies used to trade this precious metal, it can be used for almost any forex strategy, movement and XAUUSD XAUEUR is subject to the same market rules as other currency pairs.
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