Gold trading means buying and selling gold to try to make a profit from the difference in its price movements. But here’s the twist- you don’t actually need to own physical gold bars or coins to trade gold. Many traders prefer using CFDs (Contracts for Difference). These let you speculate on the price of gold without ever holding the metal. Imagine you think gold’s price will rise next month. With a CFD, you can “go long,” which means you’ll get gains if the price goes up, or “short,” if you think prices will drop.
Brokers like Dukascopy are set up to make this type of virtual gold trading (and silver too!) easy and flexible. We offer the tools to manage trades in real time, letting you move in or out of positions as prices shift. If you’ve got a hunch on where the market’s heading—or you’ve done some solid research—our gold trading platform lets you act fast.
Correlation is measured on a scale from -1 to +1:
Gold prices, just like other assets you will trade, don’t just move randomly. They’re influenced by a variety of different factors. Here’s a few big ones to keep in mind:
Knowing what’s behind gold’s price movements can help you anticipate trends and trade more confidently.
To try and visualize the above, let’s look back at its historical price chart, as it serves as both a financial and an emotional map. Here are a few of the most notable moments:
These correlations can change over time depending on market conditions, so traders should monitor them regularly.
Let’s examine the table illustrating the correlation of EUR/USD with other popular currency pairs:
There are a number of ways to trade and invest in gold. CFDs come with many benefits. You can trade them in both rising and falling markets (go long or short), you can use leverage to amplify your market exposure using less upfront capital and perhaps most importantly, you don't actually buy the underlying asset, so you never need to get a shipment of chests of gold to your front room).
If you’re interested in trading gold as CFDs on Dukascopy’s platform, here’s a quick guide to get you started:
Above we discussed how CFDs are often chosen for their flexibility, as they allow traders to go long or short based on which way the gold is moving. There are also other ways to invest in gold, which include gold mining stocks. They offer exposure to the gold market through companies engaged in mining and production. These stocks can sometimes outperform gold prices, especially in bull markets.
Gold ETFs (Exchange-Traded Funds) are another popular option, as they’re affordable, simple to trade and let you own a slice of the gold market without needing to buy actual bars or coins. These funds either track gold’s price directly or invest in a mix of gold-related assets, so you get exposure to gold’s value without the hassle of physical storage.
Trading gold can be rewarding, but it pays to have a plan. Here are some handy hints that might help:
So, why choose Dukascopy? Here’s what makes us worth considering:
For both new traders or more seasoned ones, Dukascopy provides everything you need to trade gold more confidently and efficiently. Check out a demo or live account now to get in on the action.
To start, just open a demo or live account with Dukascopy. The demo account lets you get comfortable with the platform, while the live account allows you to trade with real money once you’re ready.
With Dukascopy, you’ve got options - MT4 and MT5, two industry favorites known for their flexibility and powerful features. But if you’re after absolute customization and advanced analytics, then Dukascopy’s own JForex platform is the one you want.
Gold trading follows the forex market hours, typically open from Sunday evening to Friday evening. Dukascopy provides 24/5 access, letting you trade whenever it’s convenient.