As the value of the United States dollar has improved in recent days, gold prices have continued to tumble. With the announcement of the increase of the prime rate by the Federal Reserve, the US dollar has been performing more strongly in the world of currency and investments. Traditionally, gold value and the strength of the dominant currencies tend to move in inverse patterns. The trend in the price of gold per troy ounce right now aligns perfectly with that standard.
Despite a small rebound at the end of last week’s trading and the start of this weeks’s, gold is continuing its downward trend. As the domestic markets closed on Tuesday, December 20th, 2017, prices for spot gold dropped down to $1,127 per ounce. That is a drop of nearly a full percent in a single day’s trading, making it clear that gold prices are still responding directly to the strength of the dollar. For those investing in gold futures via an online trading Forex platform, this kind of dramatic single day change can result in many opportunities for beneficial, short term trading.
The More Gold Fluctuates, The More Opportunities Exist
While investing in gold as a long term investment may seem foolish when prices are so low, for many who engage in shorter term trading and futures trading, times where prices are volatile and fluctuating are the perfect times to invest. Looking at optimism about continued strength from the dollar indicates that gold prices will likely stay low into early 2017, barring any unforeseen changes.
The United States gold markets aren’t the only global gold markets on a downward trend. Asian markets are also seeing gold decline, leading to lower prices after overnight trading for gold this Tuesday. For those who are trading gold via online Forex platforms, this kind of up and down trend creates ample opportunity for small, rapid trades that can be lucrative.
Now Is a Great Time to Trade on an Online Forex
If you haven’t tried investing via trading gold on an online Forex platform, there’s never been another time. Online Forex platforms allow you to leverage your liquid investment, meaning you can purchase and trade far more gold than you would be able to outright purchase as bullion. While the price of gold continues to fluctuate and decline, there are ample opportunities to invest wisely and perhaps make a profit via gold futures.
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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