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Is Any Gold Trading Tips For Beginner?


Gabriel Martin

Apr 11 2020 12:33

I want to trade on the XAU/USD pair, please provide guidance on the characteristics of the XAU/USD pair, and how does this pair usually move?


Anya Watson

Apr 12 2020 09:40

@Gabriel Martin, Please note if you want to trade gold (XAU / USD), that the price movements of this precious metal are very sensitive to movements in the US Dollar, central bank policy (The Fed), issues or geopolitical sentiments (such as the issue of the US-China trade war, the Brexit memorandum, etc.), as well as physical demand and world physical gold reserves. So, you need a lot to learn about those things first. 


Cláudio Alencar

Apr 13 2020 08:44

After 1 o'clock (+/- 03.00 AM - 04.58 AM), gold and silver prices did not move and could not close. What happened?


Anya Watson

Apr 14 2020 01:47

Hi Cláudio Alencar,
As far as I know, between 4 AM and 5 AM, XAU/USD pair usually doesn't move, the server doesn't seem to respond. I once asked the broker the server was normal, it's just that at that time the market was quiet. It should close if the server is still normal. If you want more details, you should contact your broker, ask whether the server is not active during those hours.


Daniel Robson

Apr 16 2020 08:54

Each broker has an opening and closing hours for commodities, as well as CFD. You can see the Contract Specification for each instrument. At my broker, there are market closing hours from 23:56 to 01:01. During closed market hours, you cannot open or close transactions, the gold price does not move either.

xauusd swap


Gabriel Martin

Apr 19 2020 09:57

Do all currency pairs have opening and closing hours like this too or are it just gold? Then does every broker also have different hours?


Daniel Robson

Apr 21 2020 10:23

Here I provide 2 comparisons about time close between brokers. Take a look bellow: 

Broker 1:

Broker 1

Broker 2:

broker 2

From the two brokers, it is known that the market opening and closing hours are the same. The instruments that use the opening and closing hours of this market are CFDs and commodities. Take a look at the images listed below for the EUR / USD currency pair and index CFDs:

EUR / USD forex currency pair:

eurusd

CFD Instruments:

cfd instruments

For CFD instruments, it can be seen that the market closing hours are longer than Gold. The gold market is only closed for about 59 minutes, while for CFD it is for 90 minutes.


Gabriel Martin

Apr 29 2020 10:19

@Daniel Robson, Thank you for your response. I love the way you explain it. I got it now.