Forex Metals Market

Forex market is first of all the market of leading world currencies. However, besides the currencies there are precious metals also traded, such as gold, silver and palladium. This possibility considerably increases your chances of earning. Two of the most important Forex metal trading markets are London and New York. Other important centers of Forex metals trade located in Zurich, Tokyo, Sydney, Hong Kong and other places. So, the precious metals trade, as well as the currency trading, goes on round-the-clock.


Gold dips with American nonfarm payrolls on tap
Gold dips with American nonfarm payrolls on tap

On Friday, gold sank as market participants waited for the highly-anticipated American employment post due later this day, though the number one precious metal is still close to Wedn...

07.07.2016 15:33 Gold price declined
07.07.2016 15:33 Gold price declined

07.07.2016 15:33 The cost of gold has decreased from the highest level since March 2014, which was due to the strengthening of the dollar against the backdrop of the US employment st...

Gold keeps to 28-month peak
Gold keeps to 28-month peak

On Thursday, during European trade gold prices kept to a 28-month peak as market participants looked ahead to major American employment data for more indications on the Fed’s n...

06.07.2016 15:49 The price of oil dropped about 1%
06.07.2016 15:49 The price of oil dropped about 1%

06.07.2016 15:49  Oil quotes are down for a third day, in response to uncertainty about the prospects for consumption due to weak demand from the oil refining companies, as well...

06.07.2016 15:36 Gold prices continue to rise today
06.07.2016 15:36 Gold prices continue to rise today

06.07.2016 15:36  Gold prices rose moderately, reaching the highest in more than two years as stock markets and bond yields decline in profitability, some bonds to record lows p...

Gold soars to 28-month peak
Gold soars to 28-month peak

On Wednesday, gold surged to a more than two-year peak, while crude oil managed to extend its losses because renewed concerns over the impact of the UK’s exit from the European...

Gold and silver stay close to 2-year peaks
Gold and silver stay close to 2-year peaks

On Tuesday, gold and silver traded higher during European trade, staying close to yesterday’s two-year highs amid surging hopes that major banks of the world are going to step ...

04.07.2016 15:33 Gold price near two-year high
04.07.2016 15:33 Gold price near two-year high

04.07.2016 15:33 Gold price near two-year high Gold prices continue to rise, trading close to 2 year high, while silver soared to July2014 highs. On Monday, US financial markets are ...

01.07.2016 15:25 Gold price rose
01.07.2016 15:25 Gold price rose

01.07.2016 15:25 Gold price rose Gold price rose as weak economic data in China and the effects of Brexit increased demand for the metal as a safe-haven asset. The official Chinese p...

Silver: precious metals soar as yields plunge
Silver: precious metals soar as yields plunge

Precious metals have lived up to expectations at these times of high uncertainty. Gold has managed to hold onto most of the Brexit-related gains made at the end of last week, while s...

Gold/Silver ratio tops out to send Silver flying
Gold/Silver ratio tops out to send Silver flying

Matt Simpson takes a technical look at the Gold to Silver ratio to highlight potential for Silver to now outperform Gold, whilst remaining bullish on both.

30.06.2016 15:30 Gold prices rose moderately, while the broader markets showed signs of stabilization
30.06.2016 15:30 Gold prices rose moderately, while the broader markets showed signs of stabilization

30.06.2016 15:30  Gold can have the maximum monthly gain since February, due to the British decision to withdraw from the European Union last week. Last Friday, the price of the...

Gold stays afloat despite risk-on markets
Gold stays afloat despite risk-on markets

Wednesday was another “risk-on” day for the global financial markets, extending Tuesday’s bullish reversal as Brexit worries continued to abate. US and UK stocks su...

29.06.2016 15:30 Gold price gains momentum
29.06.2016 15:30 Gold price gains momentum

29.06.2016 15:30  Gold prices rose in today's trading, rebounding from losses, as market players excluded further increase in interest rates this year after Britain voted in...

Risk on or risk off? Silver rises come rain or shine
Risk on or risk off? Silver rises come rain or shine

Is it really “risk-on” today, or are the sellers just taking a breather after what must have been a very rewarding period for them? In other words, are the buyers back in...

28.06.2016 15:26 Gold prices decreased
28.06.2016 15:26 Gold prices decreased

28.06.2016 15:26 Gold prices declined in today's trading, falling for the first time in three sessions as investors took profits after futures jumped to their highest level ...

Video analysis - Gold breaks through key resistance level
Video analysis - Gold breaks through key resistance level

Why gold could go higher: The precious metal broke through a key resistance level of 1303 on Friday Whilst we remain above this level, this becomes the first area of support, which i...

Gold prices go down
Gold prices go down

On Tuesday, during European trade gold prices edged down, dropping for the first time for three trading sessions because market participants locked in profits after futures got to th...

27.06.2016 15:30 Gold up 1% on increasing risk sentiment
27.06.2016 15:30 Gold up 1% on increasing risk sentiment

27.06.2016 15:30 Gold up 1% on increasing risk sentiment Gold rose more than 1% in today's trading, remaining near the highs of the last two years, recorded on Friday as uncertai...

Chart Of The Day: Gold Prices Again Heads To North As Brexit Pessimism Prevails
Chart Of The Day: Gold Prices Again Heads To North As Brexit Pessimism Prevails

June 27, 2016 03:45 With the Brexit shockwave and an immediate uncertainty over the future of the UK, market players turned towards safe-havens to secure their investment returns, wh...


Precious Metals as the Active Currency in Trading Operations

Since 1919 the price of so-called "London fixing" is the main guideline for Forex metal traders around the world and is used in all contracts concluded on physical delivery of the precious metals. As a matter of fact, exactly in London the price of gold ands silver is determined. 

Currently the price of Forex precious metals (“London fixing”) is formed daily at 10.30 AM and 15.00 PM, and the price is determined in U.S. dollars per troy ounce. These rates are official, that is used by all participants on the market of precious metals - mining companies, consumers, central banks, etc. And in the time space between the announcement of "London fixing", prices of the Forex metals move freely, determined by supply and demand. 

Technically the transactions with gold (symbol XAU) or silver (symbol XAG) are exactly the same as the deals with any currency pair, with the only difference being that as one of the active currency in these transactions acts the precious metal itself.

There are no any specific trading strategies when Forex metal trading. Any trading strategy applies for transactions with the precious metals, since all the components of trading tactics: technical indicators, linear instruments of technical analysis, moving averages - react to changes of the price itself, regardless of the type of the trading instrument.

The Historical Development of Precious Metals Quotes

According to the company MaxiForex, historic lows have been noted:

  • The price of gold in 1999 ($251 per troy ounce)
  • The price of silver in 1991 (3.5 dollars per ounce)

Since 2003, quotes for the Forex precious metals steadily have been increasing, reaching last year's highs: gold price in the world markets broke the mark of U.S. $1,000 ($1,032 per ounce). The prices for other Forex metals in recent years are also close to maximum. Particularly for the first time in 30 years the silver price came close to $21 per ounce. Platinum and palladium also rose up to $2273 and $582 respectively.