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Is Gold Trading Good For Beginner?


Harry

Apr 4 2020 02:23

Is forex trading analysis can be used on gold trading? For a beginner, which one is better, between gold and forex trading?


Daniel Robson

Apr 5 2020 10:21

Hi Harry,
Forex analysis only can be used to trade on forex pairs. For example, the EUR / USD forex analysis, it means this analysis can be used to trade the EUR / USD pair. If you trade gold (XAU / USD), you need to listen to gold analysis reviews.

"Which one is better, between gold and forex trading?"

For beginners, you should be advised to trade in major pairs (major pairs) such as EUR/USD. Because these pairs tend to be easier to analyze (both technical and fundamental).


Harry

Apr 9 2020 10:26

Thanks for your response, well, I will learn how to trade forex trading first. But, what's the difference between forex and gold trading? Thanks


Daniel Robson

Sep 4 2020 10:29

Basically, there is no difference, because the trading mechanism is the same. The difference is just about the characteristics of the trading pair/instrument.

The movement of gold pairs (XAU/USD) is very volatile compared to other major forex pairs. In addition, the sentiment that drives the price of gold tends to be quite unique because gold is considered a safe-haven asset. So in other words, trading gold requires its own analysis approach, unlike trading forex pairs.


Harry

Apr 13 2020 10:31

Can you tell me which broker offers trading in gold commodities?


Daniel Robson

Apr 14 2020 10:35

Hi Harry,
Almost all forex brokers have provided gold trading instruments (XAU/USD). You can go to this page as your reference.