FXOchartist
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Gold has been around since ancient times, more than 3 thousand years ago. Gold has become a noble metal because the intrinsic value contained in it has made it a very valuable precious metal. Gold is used by many people as a symbol of prosperity. In some cultures, if people wear a lot of gold jewelry in their accessories, it is a sign that they are rich.
Until modern times, gold remains a valuable precious metal commodity, gold has even proven successful as a safe haven asset. because gold is resistant to inflation.
Gold itself can currently be traded in various ways, for example in the traditional market in gold shops, there is online gold trading, futures trading, ETFs and the most popular is in the CFD market.
Especially in the CFD market, gold has the ticker code XAUUSD, where gold traders in the CFD market have two opportunities, both when the market is bullish and when the market is bearish, traders can find opportunities to profit from trading gold by buying or selling.
Several important factors for traders to pay attention to when trading gold refer to the FXOpen blog as follows:
To start trading gold on the CFD market, traders use various trading methods, some like scalping with indicators such as RSI, MACD, and so on.
One of the reasons why many forex traders choose to trade gold or XAUUSD is that high price fluctuations provide large profit opportunities, but most gold traders require larger capital because the dynamics of high market volatility mean that small capital can easily be exposed to margin calls.
To start trading gold on the CFD market, beginners can try it on the FXOpen ECN demo account using a Ticktrader or STP account. Later when ready to start real trading we can jump into real accounts.
Until modern times, gold remains a valuable precious metal commodity, gold has even proven successful as a safe haven asset. because gold is resistant to inflation.
Gold itself can currently be traded in various ways, for example in the traditional market in gold shops, there is online gold trading, futures trading, ETFs and the most popular is in the CFD market.
Especially in the CFD market, gold has the ticker code XAUUSD, where gold traders in the CFD market have two opportunities, both when the market is bullish and when the market is bearish, traders can find opportunities to profit from trading gold by buying or selling.
Several important factors for traders to pay attention to when trading gold refer to the FXOpen blog as follows:
- Economic Indicators, such as GDP, inflation reports and so on
- Monetary Policy, central bank policy
- Currency Strength, gold is often correlated to USD
- Geopolitical Events. Gold is often a safe haven amidst geopolitical tensions
- Market Demand, gold is widely used for jewelry.
- Gold Trading News, reports related to mining, and supply constraints.
To start trading gold on the CFD market, traders use various trading methods, some like scalping with indicators such as RSI, MACD, and so on.
One of the reasons why many forex traders choose to trade gold or XAUUSD is that high price fluctuations provide large profit opportunities, but most gold traders require larger capital because the dynamics of high market volatility mean that small capital can easily be exposed to margin calls.
To start trading gold on the CFD market, beginners can try it on the FXOpen ECN demo account using a Ticktrader or STP account. Later when ready to start real trading we can jump into real accounts.
