Gold has always been considered as a backup asset. In times of recession, people prefer to change their assets from stocks, banking deposits and real estates into gold; at it was proven for hundreds of years that the price of gold grows during those times. On the other hand, when the economic situation is good, investors prefer to keep their money into other assets, such as sticks and currencies, which bring a larger profit on the short term. In Binary Options Trading, gold is one of the most used actives in trading. Let’s see why.
Usually, gold is traded on the long term. As said before, gold has a constant trend up or down, being influenced mainly by the economic contest. Trading Live Gold Prices With Binary Options on short term is a matter of inspiration. Usually, the price of gold within a day does not fluctuate so much, so there is no room for investors to work their magic. If something happens with the price of gold within a day, the change is owned to rumors and news, so technical analysis, Fibonacci and moving averages are useless.
Binary Options For Trading Live Gold Prices
If you see that the price of gold behaves abnormally, changing the trend significantly within one day, it means that something happened at the macro-economic level. the biggest companies in the world can’t influence the price of gold so much, but when the US Federal Reserve announces that the dollar is not that strong, and that it must be helped with an infusion of gold in the market, the price of this asset will probably go down, as an infusion of gold from Fed would probably be felt.
The price can also go up because of the announcements of different governments. During the latest years, we have witnessed many countries having cashflow problems at a national level. When Greece announced that it can’t pay its external debts anymore, people felt the panic, so they rushed to the banks to liquidate their deposits, and to buy gold.
In binary options, gold could make a trading pair with silver or other precious metals. However, the price of gold and silver usually go hand in hand, so there is no room for speculations there. IT is a better idea to combine silver or gold with other assets in Binary Options Trading, and to create a smart strategy based on fundamental analysis.
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