Forex Metals Market


EM Currencies slide as Dollar appreciates
EM Currencies slide as Dollar appreciates

Emerging market currencies have been treated without mercy by a broadly stronger Dollar, yet again.The Dollar Index appreciated to its highest level this year above 95.50 due to heig...

Pound crumbles as UK inflation fails to rise, Gold dims
Pound crumbles as UK inflation fails to rise, Gold dims

Repeated signs of easing inflationary pressures in the United Kingdom could plant a seed of doubt among investors about whether the Bank of England will be raising interest rates in ...

USD lifts on Powell comments
USD lifts on Powell comments

The USD has bounced higher today on the back of comments from Governor Powell whose view on monetary policy remains the same with lifting rates steadily overtime and keeping inflatio...

Dollar gains after upbeat Powell testimony, Gold tumbles
Dollar gains after upbeat Powell testimony, Gold tumbles

Buying sentiment towards the Dollar received a boost after Federal Reserve Chairman Jerome Powell expressed optimism over the strength of the US economy during his Congressional test...

Dollar softens ahead of Powell testimony, Pound wobbles
Dollar softens ahead of Powell testimony, Pound wobbles

Global equity markets were mostly mixed while the Dollar dipped ahead of Fed Chair Jerome Powell’s first Congressional testimony later today.Powell’s testimony could offe...

China’s economic growth cools in Q2, Gold slips
China’s economic growth cools in Q2, Gold slips

The Yuan initially weakened against the Dollar following reports of China’s economy expanding at a slower pace in the second quarter of 2018. However, losses were quickly clawe...

Stock markets recover, Pound Trumped while Gold melts
Stock markets recover, Pound Trumped while Gold melts

Investors were placed on an emotional rollercoaster ride this week as trade tensions between the United States and China intensified.The Trump administration’s latest threats t...

Trade war escalation triggers risk aversion, Gold prices fall
Trade war escalation triggers risk aversion, Gold prices fall

A fresh wave of risk aversion swept across financial markets after the United States threatened to impose tariffs on an extra $200 billion worth of Chinese goods.This unfavorable mov...

Forex Technical Analysis & Forecast 06.07.2018 (EURUSD, GBPUSD, USDCHF, USDJPY, AUDUSD, USDRUB, GOLD, BRENT)
Forex Technical Analysis & Forecast 06.07.2018 (EURUSD, GBPUSD, USDCHF, USDJPY, AUDUSD, USDRUB, GOLD, BRENT)

EURUSD, “Euro vs US Dollar”EURUSD is consolidating close to the upside border of the range. Possibly, the pair may form another descending structure to reach 1.1625. Afte...

Sterling steady ahead of UK services data, Gold rebounds
Sterling steady ahead of UK services data, Gold rebounds

Today’s main risk event for the British Pound will be the UK services PMI figures for June which could offer some insight into the health of the UK economy.Growth in the UK ser...


Precious metals are one of the best investment options

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.

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.

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