Gold Trading
Strategies and Tips

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Why Trade Gold?

Commonly aknowledged as a hedge against inflation, gold trading presents an opportunity to trade various market conditions including times of high fear or greed and inflation or deflation. Because it is priced in relation to fiat currencies, or more specifically, the US dollar, gold will never devalue due to inflation. Being one of the oldest forms of currency and still widely used as a store of value today, gold is tremendously liquid.

The Best Way to Learn Gold Trading

The best way to pick up the skills of gold trading is to have experience. While there are plenty of resources online to build up your basic knowledge of trading the precious metal, no amount of reading can replace actual trading experience.

For gold trading beginners, there is no need to rush into putting up capital. Start with a demo trading account or cent account to learn the ropes before committing to an actual live account. Copy-trading is also a great way to start trading gold without much experience. Copy enough trades, and you might just pick up a thing or two about the habits and strategies of successful traders.

3 Gold Trading Tips for Beginners

Recognise what moves the price of gold

Gold moves on a combination of factors, and traders have to recognise the risk that they might be trading on a misidentified trend. For example, investors might start turning to gold as inflation rises. However, central banks also tend to increase interest rates during times of high inflaion, which will drive people away from non-yielding gold.

Recognise what moves the price of gold

Gold is both a store of value and a commodity

Because gold also has practical applications like its use for jewellery and in electronics, its price is not solely dependent on market sentiment and economic conditions like interest rates and inflation. An often-overlooked fact is that spot gold’s prices are also affected by its production or mining rate, and the demand from non-financial sectors. For 2021, the combined demand from jewellery and tech came in at over 63%.

Gold is both a store of value and a commodity

Consider the big picture

Because pinpointing the exact reason for gold’s price action can be difficult, fundamental traders might compare the correlation between gold’s price action with various other charts like and inverse bond yield or the dollar index. Because gold has been traded for so long, it also pays to take a look at a long-term chart to identify major price levels and patterns. Lastly, looking at the price action from different timeframes can also help confirm or set stop-loss or take profit levels and prevent closing out too early or late.

Consider the big picture

How to Start Trading Gold

Ready to start trading Gold? Open an account now to enjoy low trading costs and personalised service.

Step 1
Pick an Account Type

Choose an account type that is right for your trading needs. We offer 5 Live account types, and a free demo account.

Step 2
Open An Account

Get in touch with us to quickly and easily set up your Live Account.

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Step 3
Pick a Trading Strategy

Are you trading spot gold or an ETF? What’s your timeframe? What are your exit and entry points? Go in with a plan and stick to it.

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