The Best Times to Trade Gold and how to Start Investing in Gold
Investment and trading enthusiasts usually look for the best times to trade gold in order to ensure a high rate of success for their investments, given that gold is one of the most difficult and valuable financial assets. It is also one of the most important and widely traded metal products spread all over the world.
According to the latest published estimates, the total supply of gold is 170,000 tons. Since the 1970s, the total volume of global gold production has tripled every year. Also, since that period, the price of gold has doubled to four times the price at which it was purchased.
Gold is similar to other currencies such as the US dollar, or the euro, because it is permanent and standardized everywhere in the world. Gold is widely accepted, but it differs from all other currencies in that it is backed by the country’s infrastructure and economy. So it is important to know the best times to trade gold.
Gold is one of the most popular metals in the world, and it plays a major and prominent role in advancing the global economy. This is regardless of its many industrial uses, and it is one of the strong foundations of the economy of any country.
Yellow gold has always been highly valued in all global markets, as it is a valuable substitute for the country’s wealth and prosperity.
On the other hand, investing in gold is one of the best ways to make money. It is similar to other commodities such as oil or corn because it comes from the earth and has its own uniform and distinctive physical properties. But what makes gold different from them – regardless of its price – is that its price fluctuates from time to time away from the law of supply and demand. So we devoted this article to talk about the best times to trade gold, as well as how to start this type of investment.
Best times to trade gold
Knowing the best times to trade gold is one of the most important questions investors are looking for. As well as knowing the best strategy that can be followed to achieve the greatest profit from this type of investment. And those strategies are determined by the great experience in this field, as well as after many attempts aimed at reaching the highest profit.
*. From Monday to Thursday, from 12:00 am to 9:00 pm. And also from 5 pm to 10 pm.
*. On Friday, from 12 am to 9 pm.
*. On Sunday, from 10:50 p.m. until 12:00 a.m.
Any investor can follow the changing prices of gold in the US dollar. And that is through the charts dedicated to that, which are currently on the trading platforms. From it, he can know the best times for gold trading.
How to start investing in gold
It is possible to start trading through futures contracts. A forward contract means an agreement to buy or sell something, such as gold, at a specific date in the future. Traders can make profits through the difference between the price of buying a futures contract and the price of selling it.
On a futures exchange, the price of gold increases by $0.10, and this increase is called a tick. It is the smallest value for doing a forward contract. That is, when you buy a futures contract, your profit, or loss, is determined by the number of “ticks” that the price of gold increases. It is good for the investor to be aware of the retail value of that contract in which he is trading. This can be known by knowing the times for currency trading in Saudi Arabia time.