gold losses

Gold Losses Persist into Seventh Straight Day of Trading

Since the beginning of the year, gold has been quite bullish. Gold prices, including bullion and futures, have surpassed the predictions of most market analysts for two straight months.

However, following both a promise from the Federal Reserve that a rate hike is coming, as well as the release of unexpectedly strong jobs data, gold prices have begun to slump. Long-term investors have little to worry about, as gold prices will rebound over time, keeping steady with inflation, if nothing else. However, short-term investors need to be particularly savvy and careful when trading prices drop.

After the market opens, prices move up and down throughout the day. Short-term investors can buy and sell gold futures online in a matter of minutes, allowing them to capitalize on these short-term changes in price.

Day-to-day trading can also be lucrative, as gold prices may slump one day, only to recover by several dollars the next. It is critical that investors monitor how the market is moving to ensure they are buying when prices are low and selling when prices are higher. It is very possible to make profits off of trading gold futures, even when the overall price is trending downward currently.

Forex Traders Don’t Need to Be Overly Concerned with Gold Losses

When the jobs report for February was released, it showed that new jobs were at the highest monthly rate they had been since April 2014. When the overall economy, traditional stocks and United States dollar are perceived as strong, investors tend to withdraw from gold and move into these more precarious investments. This positive report on jobs helped to extend gold’s current slump into yet another day of trading. It is unclear when gold prices will bounce back.

Recently, Bitcoin surpassed the price of gold. This is great for currency investors, who stand to profit handsomely off of their Bitcoin purchases. It is also great for those who regularly trade gold, because lower prices allow you to control more gold for short-term trading.

As there are daily changes and fluctuations in price, you don’t need gold to be trending upward overall to make profits off of short-term trading. By buying at a daily or weekly low point and selling when prices rise, you can profit off of the regular changes in gold price.

How to Trade Gold?

Take advantage of the daily changes in the price of gold. Start trading gold today by opening a trading account with easyMarkets and get up to $2000 bonus*. As an industry first, they have also launched a unique deal cancellation tool as a way to manage your risk on any bad trades. By selecting dealCancellation on the trading platform whenever you make a trade, you can cancel your losing trade within 60 minutes and get your money back. *Terms and Conditions Apply

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