Gold has been traded since the dawn of time, and over the centuries has become the most traded asset in history. Early gold trading was in exchange for goods, land, or livestock, and later the precious metal was used as a currency and for ornate jewellery.
Online Gold trading now dominates and a variety of factors determines what the Gold trading price is today. For traders on PrimeXBT, access to the Gold market is easy with a number of advanced trading tools on offer to help build a successful trading strategy.
PrimeXBT is purpose built for traders looking to take advantage of the Gold market, and other popular markets. Save your profits with low fees, execute orders near instantaneously, and be sure in the knowledge your funds and data are safe with the bank-grade security system on the platform.
Margin trading is a very popular way to speculate on price movements of Gold. Margin trading means that the trader will borrow funds from PrimeXBT in order to open larger positions while only putting up a small part of the overall position, known as margin. Essentially, margin trading improves profitability on successful trades.
This can lead to potentially bigger profits on Gold trades as the position is bigger than the deposit of the trader, but it is also risky as the losses for a trade that goes the other way can also mean higher losses than expected.
For example, If a trader takes a long position of $2,000 on Gold and it rises by 10%, using 5x leverage the same rise becomes a 50% profit, or $1,000. A similar spot trade without leverage would result in only 10% profit, or $200.
Disclaimer: Margin trading also comes with inherent risks if the position moves against the trade. You should never utilize 100% leverage and never invest more than you can afford to lose.