Gold Price Today: Live Charts, Update, History

This involves initiating trades in a contrasting direction to the reaction of the NFP original release. The major parts of this strategy include planning with steps, waiting for the signal, and then placing trades based on the outcomes.

This strategy runs on a perception that the actual data release may trigger an overreaction from traders which usually leads to intense market activity. After the market eventually settles down, traders can then start to evaluate the size of their positions and choose whether to take their profits or reduce the losses. This kind of activity creates a suitable short-term opening for traders to take advantage of, considering the ambiguous relationship between gold and the NFP report. Of course, it's best to trade on broker that offers a low spread on gold trading.

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When it comes to the question of which one is better than the other, we must understand that both are essentially strong. But one thing about these assets that we can observe is that gold is priced in US dollars and tend to move in the opposite direction of the greenback. The reason is that a stronger dollar means that it would take fewer of them to buy an ounce of gold.

As the US dollar is expected to remain subdued in the coming years, gold is more likely to gain greater importance as a safe haven. While both have been great reliable assets, the circumstances in the financial markets also play a part in determining which one is winning.

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• The highs and lows of the last four-hour trading period should be pinpointed 15 minutes before the NFP output is made public.
• A buy order should be positioned below the range's high while a sell order should be positioned below the range's low.
• A secure stop-loss should be positioned on the other side of the range for the two orders.
• Wait for the initial reaction of the NFP to activate one of the orders.
• The other pending order should be canceled once an open position size is acquired.
• The take-profit can be determined using the target price.

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The gold-silver ratio is the measure of how many ounces of silver are needed to purchase one ounce of gold at the current market price.

Continue Reading at How to Use the Gold to Silver Ratio for Strategic Investment