There are several weighing methods in the precious metals and stones markets, where the most common is TROY (a TROY ounce equals approximately 31.10 grams; where an AV ounce equals approximately 28.35 grams).
The trading with gold and silver rates is performed as it is done with foreign currencies, by the OTC method (over the counter). That means that the trading is performed directly between the two involved parties, and not via a third party which consolidates the trade (such as an exchange market).
Trading with gold or silver rates, as with foreign currency rates, is non-delivery trading, which does not require the "physical" purchase or sale of the "commodity".
Easy-Forex™ clients and traders, who wish to perform Day-Trading with gold or silver rates, will regard the gold (XAU) and silver (XAG) just as they treat any other foreign currency, however - the trade is done only against the US dollar (USD).
Please note that gold and silver rates are traded worldwide between 01:00-17:30 GMT, Monday through Friday, and that spreads are usually higher during after-hours.
The trading with gold and silver rates is performed as it is done with foreign currencies, by the OTC method (over the counter). That means that the trading is performed directly between the two involved parties, and not via a third party which consolidates the trade (such as an exchange market).
Trading with gold or silver rates, as with foreign currency rates, is non-delivery trading, which does not require the "physical" purchase or sale of the "commodity".
Easy-Forex™ clients and traders, who wish to perform Day-Trading with gold or silver rates, will regard the gold (XAU) and silver (XAG) just as they treat any other foreign currency, however - the trade is done only against the US dollar (USD).
Please note that gold and silver rates are traded worldwide between 01:00-17:30 GMT, Monday through Friday, and that spreads are usually higher during after-hours.
Gold Trading systems may be tailored to the specific needs of individual traders. A trading system typically comprises a specific set of rules that determine entry and exit points. It generally also incorporates various technical analysis indicators that provide feedback about the strength and direction of a trend. Trading systems may be tailored to the specific needs of individual traders.
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Review of Top Gold Trading Systems
Realated articles about trading gold and silver
New at Easy-Forex™:
Day trading with gold and silver
Easy-Forex™ enables its clients to perform DAY TRADING Systems in gold and silver rates against the US dollar. Gold Tarding System
The gold symbol is XAU, the silver symbol is XAG.
The price of gold refers to its price per ounce in USD. For example, if the price is 612.97, it means that an ounce of gold is traded for USD 612.97. Similarly, the price of silver as well refers to its price per ounce in USD. For example, if the price is 11.853, it means that an ounce of silver is traded for USD 11.853.
Day trading with gold and silver
Easy-Forex™ enables its clients to perform DAY TRADING Systems in gold and silver rates against the US dollar. Gold Tarding System
The gold symbol is XAU, the silver symbol is XAG.
The price of gold refers to its price per ounce in USD. For example, if the price is 612.97, it means that an ounce of gold is traded for USD 612.97. Similarly, the price of silver as well refers to its price per ounce in USD. For example, if the price is 11.853, it means that an ounce of silver is traded for USD 11.853.
Rules for an AMEX Gold Index Trading System
A complete trading system should go well beyond simple signal generation. It ought to incorporate decision-making procedures (where to buy and sell) and include risk management calculations. A complete trading system should also include auto-trading capabilities based on the signals it generates. Finally, a good trading system must operate objectively, ideally removing the emotional factor from the trading process.
Using a volume-based system to trade the AMEX Gold Index as an example, the following simple rules could apply:
Establish the critical VMA (volume moving average) levels that precede index reversals in a majority of cases;
During a decline on the index, buy when the VMA exceeds the critical level (as defined in step 1) and then VMA starts to move higher.
During an advance on the index, go short when the VMA exceeds the critical level (as defined in step 1) and VMA then starts to move lower.
These rules are very basic; depending on the specific trading application, they may have to be adjusted. For instance, when trading with volume-based indicators, you may have to define separate critical VMA levels for downtrends and for uptrends. In addition, it is good practice to incorporate additional rules into a trading system
Using a volume-based system to trade the AMEX Gold Index as an example, the following simple rules could apply:
Establish the critical VMA (volume moving average) levels that precede index reversals in a majority of cases;
During a decline on the index, buy when the VMA exceeds the critical level (as defined in step 1) and then VMA starts to move higher.
During an advance on the index, go short when the VMA exceeds the critical level (as defined in step 1) and VMA then starts to move lower.
These rules are very basic; depending on the specific trading application, they may have to be adjusted. For instance, when trading with volume-based indicators, you may have to define separate critical VMA levels for downtrends and for uptrends. In addition, it is good practice to incorporate additional rules into a trading system