Gold has been treated as a worthy commodity for millennia and the gold price is broadly followed in trading markets all over the world. Most typically quoted in US Dollars (XAU/USD), gold price tends to
rise as bonds and stocks decline.
US gold futures increased 0.6 % to $1,519 whereas the dollar indicator led towards a weekly decline.
Gold rates leaped in futures trade as the trade clash between Sino-US escalated. The precious metal retains its worth effectively, making it a reliable safe-haven. World economic brake fear made traders move towards the safe-haven asset. Globally, the continuing buy and sell dilemmas battered the gold rates that experienced the most beneficial week in over the last 3 years of trade.
The best way to trade gold using Proficient Assessment
Technical traders would see how the market status of the gold price chart has evolved in the past few years. Gold rates were in a sizeable trend from 2005 to 2015. Since 2015, gold prices have been swapping a precise range, changing hands between $1,000 and $1,400. In case the market is trending, use a momentum strategy. If the gold chart is range-bound, then try using a low volatility or range strategy. This is one of the technique in the gold trading strategy.