Early trading on Tuesday, September 12, 2017, showed gold losing some of its more recent gains. As of mid-day, gold prices had backed down to $1,327 per ounce. Shedding some of its recent gains hasn’t pushed gold too far down, however. Compared to lows only a few weeks ago, the overall price for gold futures is still up.
A number of factors contributed to the consolidation of gold prices. First, stocks had their strongest opening in some time. Investor optimism is currently quite strong, due in no small part to gains by the dollar. A number of factors have contributed to these gains, but the potential for a rate hike from the Federal Reserve was definitely one of them.
Domestic Traders Respond Happily to U.N. Sanctions of North Korea
There’s little doubt that the decision by the United Nations to impose sanctions against North Korea following weeks of saber-rattling and missile tests played a role. The situation with North Korea has had investors quite nervous. Any sign of serious political instability can help push investors toward gold, which is seen as something of a safety net in times of unpredictable investment returns.
Because these U.N. sanctions make it clear that the Unites States has international support in the ongoing tense situation with North Korea, the impact of this situation on the investment market has decreased sharply. Analysts can see potential for another upswing in gold prices in the near future. There is also potential for prices to continue consolidation for the short term.
Even when prices decrease in the short term, gold futures trading can still be a quick and simple way for savvy traders to make profits. Even if the price has started to trend downward, there are dozens of price fluctuations every day, as well as throughout the week. Buying during a downturn and selling when prices rally is a great formula for gold trading success.
Online Forex Trading Can Benefit Investors
There are a number of real-world benefits to trading gold online. First of all, you can quickly and easily make trades from your mobile device or computer. This allows investors to capitalize on short-term changes in price. Secondly, you can leverage your investment, which allows you to control more gold via gold futures than you could trade if you were investing in physical gold. Finally, it’s convenient and affordable. With prices creeping up, even after a consolidation, it makes sense to look into investing in gold online.
How to Trade Gold?
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