Today, gold markets around the world are seeing an uptick in the price of gold and gold futures. After several weeks of decline, leaving gold prices at a ten-month low, prices have begun to rebound. Most experts believe this drop is related to a decline in the index of the United States dollar, which dropped nearly half a percent. That resulted in an increase in the demand for, and price of, gold. By mid-morning on Thursday, Dec. 29, 2016, gold was trading at $1,147.56 per ounce.
Gold Prices Should Hold Steady, Barring Sudden Changes
There are several factors that could change the trading price of gold quickly in the upcoming week. Among them are the pending release of the Sharia Gold Standard created by the Accounting and Auditing Organization for Islamic Financial Institutions (AAOIFI) earlier in December and the pending Italian banking bailout. Depending on the outcome of these and other situations, gold prices are very likely to continue fluctuating in small degrees while staying near low levels for the year.
The recent overall upturn in the dollar combined with the higher prime rate for lending in the United States have served to drive some investors out of the gold market. However, many are looking to gold and other precious metals to retain and increase their overall value in the upcoming months.
It is uncertain what the future will bring, but one thing investors can count on is that gold prices will trend up and down on any given day and throughout the week. Instead of viewing gold as a long-term investment by purchasing bullion, those who wish to diversify by investing in gold may be able to profit from short-term trading online.
Whether Gold Is Bearish or Bullish, Trading Online Can Make You Money
Regardless of whether the macro trend for gold prices is trending upward or downward, the gold markets change regularly enough to present an opportunity for investors to make money. By trading gold online via a Forex trading platform, savvy investors can often profit from short-term fluctuations in the price of gold.
Instead of purchasing physical gold, which is time-consuming and can be quite expensive, trading on a Forex platform allows you to invest in gold futures. You can even leverage your liquid capital investment, meaning you can control the trading of more gold than if you were buying physical gold.
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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