Gold is recognized as a currency in the Forex market. This has long been valued by different societies around the world for its brilliance and malleability.
Currently one of the traded pairs is usually XAU / USD.
XAU is the abbreviation used in the market to identify gold. The pair mentioned above is often considered the best safe haven asset, because it resists market turbulence and at the same time retains its value in periods of uncertainty.
It is also common for traders to use gold to find inflation protection while diversifying their investments.
Since gold can react differently to market stimuli than other assets, it is important to make use of Forex signals gold, in this way you will stay informed and on the path of market wisdom.
What are Forex signals gold?
These are signals received by traders in the form of trading advice.
These signals are created by a signal provider, which tells you what way you should take with respect to the dollar or if you want to match it with another currency. When you see what prices or what time you should trade the gold, you will probably have better results.
Also, These kind of signals tell you what movements or direction the gold will take and everything it implies.
What can influence in the Forex signals gold?
Anything that influences forex signals gold means that they influence the price of gold on its own.
- Interest rates: this has always been one of the biggest determinants of the price of gold. Interest rates refer to the level of real interest rates, or the interest rate minus inflation.
Normally when real interest rates are low, then investment alternatives can provide low or negative returns. This pushes investors to find certain alternative ways to protect the value of their wealth. Now if real interest rates are high then you can get solid returns.
- The US Dollar: This is another of the biggest talking points for traders interested in gold and the US Dollar as the main pair.
Since the dollar is priced in US dollars, then it can be assumed that the two are inversely correlated. In thinking this, it is believed that the value of gold and the dollar move against each other.
However, it is not always so. In periods of financial stress, the US dollar can rise and gold quickly.
Its profitable trading Gold and using forex signals gold?
One of the best reasons we can give you to trade gold is the fact that its price can fluctuate with more volatility and also more strongly than other traditional currency pairs.
For you to understand better you can take into account the following. The major currency pairs typically fall or rise by only 8% in a year, but the price of gold has sometimes risen 100% in a few months.
For that same reason it is very important to use Forex signals Gold, since this will help you identify how to get benefits from gold.
Certainly, the cost of trading gold in terms of spread and commission is usually higher when compared to other Forex currency pairs, however that makes it more rewarding in terms of profit.
Trading gold tips
- Gold is very worth trading since its price usually moves a lot and this implies that it has a good trend.
- Using Forex signals Gold is always a good idea; it is the complement for your strategies.
- Any basic broker will offer you the option to trade gold.
- You can make use of fundamental analysis to determine which technical analysis signals they have been more likely to work better, however you achieve this with Forex signals golden.
- Always be aware of nightly exchange rates in case you expect to keep an operation open for several days.
Finding Forex signals gold
Getting some forex signals gold is easier than it seems, since you will only have to look for providers who are willing to provide them with good prices and at the same time, good results.
Here we will show you some suppliers that will help you in your gold trade. Remember that when you make use of these Forex signals gold, you must use them as a specific help tool.
This is an application, which as its fairly obvious name implies, provides trade signals for gold. It also offers signals for other currencies, precious metals, indices, energies, stocks, and cryptocurrencies.
On its website you can find 3 types of signals. These signals are: trading signals, golden line signal and range signal respectively.
This provider is quite easy to use and represents monthly signals that will give you many benefits. Its accuracy is over 60% which is fine for a platform like this.
It is truly inexpensive, costing just $ 89 per year.
This time we ran into a Canadian signal provider. It offers the trader around 140 signals per month regardless of the plan they choose.
You will be able to receive their signals through Telegram Signals, mail or their platform. Signs for gold are included in your catalog.
Their standard plan has a base price of $ 99.
Gold trading strategy
This is a provider considered new to the Forex signals market. It has many good reviews and accuracy.
You can get around 3 to 5 signals a day.
Finally, we have in our recommendation a free signal provider. Here you can receive a detailed analysis of each currency pair, and this includes coins such as gold.
You will also find a history of closed trades with which you will see the performance of previous signals.
You can receive them through telegram and email.
Forex signals gold summary
Forex signals gold have become a necessity for all traders who have decided to be part of the world of gold trading.
Gold in turn has a very large community that needs aid tools. For this reason it is always important to investigate as much as possible to improve. Please keep checking our other content on our best signals for forex blog!