How much does gold cost on the exchange - an online chart of the price of gold in dollars per 1 troy ounce, as well as on the COMEX commodity exchange. Price forecast and features of gold futures. The gold price chart (XAU/USD) for today also shows the history of prices for the entire period. The online chart shows gold quotes against the US dollar. Gold is the most popular metal among stock traders. It is of particular interest during crises, when some investors try to keep their capital in it. For this reason, the price of gold depends not only on the volume of its production, but also on the economic situation in the world as a whole.
Simple and lightweight Gold Futures Live Chart is a powerful free tool that allows you to easily conduct technical analysis online without downloading additional files and applications. In order to meet the needs of the most demanding technical analysts, you can find over a hundred chart analysis tools on our Gold Futures chart. You can also add any of 80 technical indicators directly to the chart online - in two clicks. The possibilities are endless!
Technical Analysis Gold Futures
Gold Futures Technical Analysis widget is a modern handy tool that shows ratings based on technical indicators data. The design of the widget is made in the form of a speedometer, thanks to which you can quickly see the results of the summary technical analysis. You no longer need to use many indicators for analyzing financial instruments, the widget will do it for you. In addition, all rating data are updated in real time. These technical indicators are used for technical analysis: Relative Strength Index, Stochastic, Commodity Channel Index, Average Directional Index, Awesome Oscillator, Momentum, MACD, Stochastic RSI, Williams Percent Range, Bull Bear Power, Ultimate Oscillator, Exponential Moving Average, Simple Moving Average, Ichimoku Cloud Base Line, Volume Weighted Moving Average, Hull Moving Average.
Trade GOLD Futures
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How to Trade Gold & Silver: Precious Metals Futures Explained
Gold and silver are precious metals that are valued by many for their safe haven appeal as traders and investors tend to seek refuge from inflation through trading them. This is because historical price patterns have shown that whereas inflation and recessionary fears may cause volatility across various market sectors, some assets like Gold and Silver are considered to be less volatile in such cases as they tend to preserve or ascend in their value. So what are precious metals exactly, how do you trade them, what shifts their prices and what are their benefits?What Are Precious Metals and How to Trade Them?
Famous for being used in jewelry-making, as the name might entail, precious metals are elements that are considered to be scarce, valuable, and more expensive than other metals. Moreover, besides being used for jewelry, precious metals are also used in the creation of electronics, energy products, and automobiles. In addition, when talking about precious metals, it is important to note that the most popular of them are gold, silver, palladium, and platinum.Accordingly, due to their appeal, many traders and investors may want to trade these metals and potentially profit from them. This can be done in multiple ways, one of which is owning the precious metals by buying them either from a bank, intermediary, or exchange like the Shanghai Gold Exchange. Another way to trade precious metals is through buying or selling gold and silver coins or bars. But perhaps one of the most popular ways to trade gold and silver is through Gold and Silver Futures.
What Are Gold Futures or Silver Futures?
Futures contracts offer traders the opportunity to access a wide range of financial markets, including the metals commodities market, and trade on their rising or falling prices. Gold and Silver Futures are derivative contracts that obligate the trader to buy or sell gold or silver at a predetermined price and quantity in the future.What Are Some Advantages of Trading Gold and Silver Futures?
Investors and traders may want to trade Gold and Silver Futures due to the fact that they come with multiple possible advantages that include the following:Leverage: for traders seeking to potentially magnify their gains using a relatively smaller margin Futures trading may be a good fit.
Risk hedging: Futures allow traders and large corporations to hedge against the risk of metal commodities price swings.
Flexibility: Futures trading allows access to gold and silver prices almost 24 hours a day, 6 days a week which increases trading opportunities and exposure to price changes, unlike traditional gold trading. However, please note that each trading day, there’s a one-hour break in the afternoon.
The Benefits of Trading Precious Metals Over Stocks
Whereas precious metals can be a safe haven from inflation as they can appreciate or preserve their value, stocks tend to be more volatile in times of economic downturn.Gold and silver may have an intrinsic value which means that they may depreciate but will usually hold most of their value. However, please keep in mind that past performance is no indicator of future results.
Some consider Gold and silver trading to be more liquid than stock trading though both types of trading can be volatile and their liquidity can ebb and flow.
Unlike stocks, metals are tangible assets that can be seen and measured which may be attractive to traders who prefer to invest in actual resources.
What Moves Gold Prices?
While generally gold is known for its appeal, its prices can shift due to supply and demand changes. According to the supply and demand law, commodity prices are likely to rise when the overall supply and inventory fall and vice versa.In addition, like most market sectors, metal commodity prices tend to shift due to changes in market sentiment and interest rates changes. This is because when the Federal Reserve hikes interest rates, the U.S. dollar tends to appreciate in value, which, in turn, causes gold to decline due to the fact that gold futures are priced in U.S. dollars.
Moreover, given the fact that gold is mined from the earth, it might not come as a surprise to learn that geographical and weather changes can affect bullion prices.
What Moves the Price?
Like gold, silver prices are also subject to supply and demand changes. Also, similar to gold, inflation and the purchasing power of the U.S. dollar can affect the prices of silver whereby a stronger dollar weakens silver. This also applies to interest rates as higher interest rates can lead to lower silver prices and vice versa.Furthermore, historical price patterns indicate that silver and gold prices tend to rise and fall in tandem since as gold rises, silver rises too. Nonetheless, it is important to note that the markets are volatile and that past performance does not necessarily reflect future results. Other factors that may affect silver prices are economic trends and market sentiment which can also affect gold as well.
What Are the Official Trading Times For Precious Metals?
Precious metals trading is conducted from Sunday at 6:00 p.m. EST until close on Friday at 5:00 p.m. EST with an additional break between 5:00 p.m. till 6 p.m. from Monday to Thursday.Overall, gold trading and silver trading can be achieved in various ways. If Gold and Silver Futures and online gold and silver trading appeal to you, then you can trade them through Plus500’s Futures trading platform.
GOLD for Investor
On the COMEX New York Mercantile Exchange, gold futures trade under the ticker symbol GC.The Chicago Mercantile Exchange (CME) provides a futures contract with the similar ticker GC.
On the London Metal Exchange (LME) - LME Gold.
The Intercontinental Exchange (ICE) has the gold futures ticker ZG.
The gold quote is displayed in US dollars. The volume of the contract may vary, but on most key exchanges it is 100 troy ounces.
The types of futures also differ on different exchanges. For example, delivery contracts are traded on the Chicago Stock Exchange and ICE, implying the physical purchase or sale of gold.
There is also a spot market for gold. Its basis is the LBMA Gold Price electronic auctions, which in 2015 replaced the usual gold fixings. Twice-daily auctions determine the price of gold, which is the global benchmark for physical gold trading.
Moreover, you can invest in gold in many banks, not only by purchasing bullion, but also by opening an OMC - an impersonal metal account.
So you can invest in gold the amount equivalent to one gram of it (and sometimes less), without having to spend money on storing it and overpay for the physical form.
At the same time, the cost of gold at the OMC is close to its stock quotes. This type of investment is well suited for long-term investments.
Gold replaced money for a long time, after which it served as collateral for many currencies. However, even after the abandonment of the gold standard, some currencies have not lost touch with the yellow metal and show correlations with its price.
The largest gold producing states include China, which accounts for more than 10% of global production, Australia, the USA, Canada, Peru, Indonesia and South Africa.
In total, these countries produce more than half of all gold per year.
The largest gold mining and processing companies in the world:
- Newmont Goldcorp (TSX:NGT, NYSE:NEM)
- Barrick Gold (TSX:ABX, NYSE:GOLD)
- AngloGold Ashanti (ASX:AGG, NYSE:AU, OTC:AULGF)
- Kinross Gold (TSX:K, NYSE:KGC)
- Newcrest Mining (ASX:NCM, OTC:NCMGF)
- Goldcorp (TSX: G)
- Freeport-McMoRan (NYSE:FCX)
- Polyus Gold International (LSE:PGIL)
- Gold Fields (NYSE:GFI, JSE:GFI)
- Randgold Resources (OTC:RNDXF)
- Yamana Gold (TSX: YRI)
- Eldorado Gold (TSX: ELD, NYSE: EGO)
The high value for the industry of gold betrays the fact that it is not subject to oxidation. In addition, it has a low melting point of 1064 degrees, and is easily amenable to physical impact.
There are two main types of gold: bank gold, which is available in 999 fineness and traded on financial markets, and jewelry with fineness below 750, which contains impurities to give it strength and durability.
Over 50% of the world's gold is used for jewelry. About 10% of the total volume of gold is industrial products: it is used in the creation of electronics, weapons, in the medical field, as well as in nuclear fusion and the space industry. 40% of the mined gold is used for investment purposes and 10% remains in the foreign exchange reserves of states.
How to Invest in Gold?
he easiest and most profitable way to invest in gold, of course, is to buy gold assets on commodity exchanges. To invest in gold, it is not even necessary to leave your home, as the exchanges work only online and all transactions are made through a computer and the Internet.Since the exchange does not work directly with clients, there are special intermediaries - brokers. You only need to register with a broker, replenish your personal account and open a deal to buy gold.
To open a deal, it is enough to register, replenish an account, open a trading terminal, where you can select the desired asset and indicate the volume of the transaction (lot), and then indicate the direction of the transaction - Buy (Purchase) or Sell (Sale).
How much can you earn trading gold?
There is no clear answer to this question, since everything is individual and depends on the way you invest in precious metals. One thing is for sure - gold has been steadily holding an uptrend for several decades. And this trend will continue further, as every year the amount of metal dries up on the ground, making it limited and more expensive. Here the law of supply and demand works 100%. Even if demand remains at the same level, the supply on the market is declining every year. Which leads to an increase in the price of 1 unit of gold.
Need to invest in gold?
According to the forecasts of analysts and experts, sharp jumps in gold prices are not expected in the near future. Unless a global catastrophe occurs.
But given the peculiarities of the gold market, quotes for its assets will grow at a moderate pace over time. This means that investing in gold is a kind of win-win profitable option. But only in the very long term. Therefore, the investor needs to be patient.
Buy gold should be during economic crises. It is during this period that up to 50% of all purchases occur.
Advantages and disadvantages of investing in gold
Gold almost does not depreciate. But despite this, its price range can reach large sizes. For this reason, in the short term, investing in gold can lead to large losses due to price spikes. But in the long term, they smooth out and are the usual market noise in the main uptrend.
Another significant drawback is the large spread. When buying gold coins, there is a significant plus - the absence of commissions for the purchase. Investing in gold bars and jewelry carries the risk of theft. But in OMC, you do not need to pay taxes for the purchase of physical ingots, while there is no risk of theft.
But it is not in vain that investors do not seek to invest all their capital in gold, although this is a win-win investment. For them, gold is a kind of dead asset. And after the same 10 years, the profit from it can be “eaten up” by inflation. And you will not receive any dividends for owning gold bars.
Comments
Submitted by Anonymous on Thu, 04/04/2024 - 17:11
Gold Futures Forecast
Hey Everyone,
This is our monthly chart long term projection chart. We have been tracking this chart since July 2023, which we saw completed hitting all our targets perfectly with a perfect finish on the channel top.
We then tracked the rejection from the channel top into the monthly chart detachment highlighted by the circle with room still left at 1987 for a test, also inline with the channel half line.
THIS PLAYED OUT BEAUTIFULLY!
We then suggested that we will see a reaction on this channel half line for another push up to retest the upper range again.
Once again this played out accordingly for the push up hitting our Bullish targets once again.
However, the 2080 target was left short just by a few pips so can still be considered open. Since then we saw the new monthly candle come down to attach to ema5 this month also highlighted with a circle on the chart. We are looking for dynamic suport here for a push up. If dynamic support fails to hold price here then we are likely to see price support above 1987.
Just like we said we got the ema5 detachment complete but no dynamic support. 1987 provided the support and the bounce, as advised previously.
We are likely to see price now play between this big range. A break below 1987 will see the lower half of the channel range open up. However, support above this level inline with the channel half-line will give opportunities longer term to buy dips back into the 2080 level long term.
PREVIOUS UPDATE
BOOOOM!!!! Our 2080 target that we have been suggesting and targeting from dips was now hit perfectly last week. We now have 2163, as our long range target to complete this chart idea.
CURRENT UPDATE
2161 was hit last week completing our projection from last week for another perfect hit. We now now either see this channel break and go for the 2235 level or a rejection here for a correctional retracement will see price find support at the highlighted Goldlturns for a reaction until the bulls find momentum again to extent the channel range to then target 2235 and 2296 long term.
This played out perfectly with the 2235 target hit perfectly and now our long term at 2296 left for the extended range. Once again we have highlighted and updated a route map within the channel for retracement and support tests and levels to extend the range and channel top for the future. We will also keep in mind 2080 is holding the structure above the channel half line support.
Trying to chase the right target is like chasing your tail. The best strategy to trade this, is by having a long term plan. We will continue to buy dips using our smaller timeframes and use the support ranges on this chart to plan our long term exposure to market.
Submitted by Anonymous on Fri, 02/16/2024 - 16:28
Gold price forecast February 16, 2024
GOLD is making a bullish rebound on the 2H TF and is nearing the resistance line above while we are generally bearish biased on the pair due to our previous 1W candle analysis, thus making a trend-following short a good option for us with the target being the 1984.223 level.
Submitted by Anonymous on Mon, 01/29/2024 - 14:05
We are targeting the 2009.230 level area with our short trade on GOLD which is based on the fact that the pair is overbought on the BB band scale and is also approaching a resistance line above thus going us a good entry option.
Submitted by Anonymous on Tue, 01/02/2024 - 18:28
GOLD SENDS CLEAR BEARISH SIGNALS | SHORT
GOLD pair is in the uptrend because previous week’s candle is green, while the price is clearly rising on the 1D timeframe. And after the retest of the resistance line above I believe we will see a move down towards the target below at 2022.780 because the pair overbought due to its proximity to the upper BB band and a bearish correction is likely.
Submitted by admin on Wed, 01/11/2023 - 13:36
Gold Elliott Wave Forecast Impulse Move Near Complete
Short term cycle from 11.23.2022 low remains in progress as a 5 waves impulse Elliott Wave. Up from 11.23.2022 low, wave ((i)) ended at 1833.29 and pullback in wave ((ii)) ended at 1795.90. The metal then rallies higher again in wave ((iii)). Internal subdivision of wave ((iii)) is unfolding as another 5 waves impulse in lesser degree. Up from wave ((ii)), wave i ended at 1825.21, and pullback in wave ii ended at 1813.30. Wave iii ended at 1850.15, pullback in wave iv ended at 1829.90, and final leg wave v ended at 1865.15 which completed wave (i). The metal then pullback in wave (ii) towards 1824.
The metal extends higher again in wave (iii) towards 1881.59, and wave (iv) ended at 1871.10. Final leg wave (v) is in progress to end wave ((iii)). Afterwards, Gold should pullback in wave ((iv)) to correct cycle from 12.28.2022 low before it resumes higher again in wave ((v)) of 1. Afterwards, it should end cycle from 11.23.2022 low and the metal should pullback to correct that cycle before the rally resumes again. Near term, as far as pivot at 1796.6 low stays intact, expect pullback to find support in 3, 7, or 11 swing for further upside.
Gold 45 Minutes Elliott Wave Chart
Submitted by admin on Wed, 11/02/2022 - 13:22
Gold: Elliott Wave Forecasting The Next Move After 5 Waves Decline
In this technical blog we’re going to take a look at some Elliott wave charts of yellow metal (Gold). Gold formed a high on October 4, 2022 (1729.46) and started declining. Decline took the form of an impulse, we will explain the internals of this impulsive decline, the bounce which we expected and current forecast.
Gold: 21, October 2022: 1 Hour Elliott Wave Analysis
In the chart below we can see Gold is an impulsive 5 waves decline from October 4, 2022 (1729.46) high. Wave (i) ended at $1700, wave (ii) ended at $1725.55, wave i of (iii) ended at $1706, wave ii of (iii) ended at $1715.16, strongest part of the impulse i.e. wave iii of (iii) ended at $1660.30, wave iv of (iii) ended at $1683.94, wave v of (iii) took the form of an Ending Diagonal and ended at $1639.30, wave (iv) ended at $1668.42. We can already see 3 swings down from blue (iv) peak so expecting another low to complete wave (v) and cycle from October 4, 2022 peak before a bounce.
Gold: 22 October, 2022: 1 Hour Elliott Wave Analysis
As per Elliott Wave Theory, after a 5 waves decline, there should be a recovery in minimum 3 waves. In the chart below, we can see Gold made a new low to complete wave (v) at $1616.80 on October 21, 2022 and bounced strongly. First leg of the bounce is close to ending, after which we expect a pull back and one more leg higher to complete three waves bounce before the decline resumes.
Gold: 1 November, 2022: 1 Hour Elliott Wave Analysis
In the chart below, we can see yellow metal completed 3 waves bounce on October 26, 2022 at $1674.94 and has turned lower again. Since decline from October 4, 2022 peak was an impulse, forecast is for XAUUSD to resume the decline and make a new low below October 21, 2022 ($1616.80) low.
Alternate view suggests it can hold the low at October 21 , 2022 for seven swings higher before the decline resumes but as far as October 4, 2022 high remains intact, forecast is for Gold to resume the decline and break below October 21, 2022 low.
Submitted by admin on Fri, 10/21/2022 - 12:21
Elliott Wave Forecast: Gold (XAUUSD) Could Shine A Bit In Coming Days
Short term Elliott Wave view on Gold (XAUUSD) continued with bearish momentum from 10.04.2022 high calling for further downside. Decline from 10.04.2022 high is unfolding in 3 waves to complete a double correction. Down from 10.04.2022 high, wave (i) ended at 1700.00 and rally in wave (ii) ended at 1725.78. Then XAUUSD resumes the drop as wave (iii). Internal subdivision has 5 waves in lesser degree. The 60 minutes chart below shows the internal subdivision of wave (iii).
Down from wave (ii), wave i ended at 1705.81 and correction in wave ii ended at 1715.00. Down from wave ii, wave iii finished at 1660.32 and wave iv bounce completed at 1683.78. Wave (iii) decline ended at 1639.24 and wave (iv) ended at 1668.45. Final leg lower wave (v) of ((a)) is in progress and it should end soon. We are expecting more low to complete wave (v) and wave ((a)). When the impulse has completed, we look for a with the bounce in 3, 7 or 11 swings higher as wave ((b)) that should fail to resume with the downtrend again. A break of 1668.45 should confirm that gold is already in wave ((b)).
GOLD 60 Minutes Elliott Wave Chart
Submitted by Arnold on Sun, 10/23/2022 - 23:59
That's cool! Yes!
On Friday, the trade recommendation was 100% profitable!
I buy $100 at the current price of gold futures with a leverage of 1:1000, at a price of $1623 and in 4 hours I sell this contract at a price of 1650, as it was in the forecast.
Profit: 2700 pips = $2700.
Thank you! Watch for new trading signals!
Submitted by admin on Thu, 10/13/2022 - 14:40
Trading Signal for Gold (XAU/USD) on October 6-7, 2022: buy above 1,718 (7/8 Murray - 200 EMA)
Gold (XAU/USD) is trading at around 1,720, above 7/8 Murray (1,718), above the 200 EMA, and the 21 SMA, providing a strong positive signal. If the metal keeps trading above this area in the next few hours, it could reach the strong resistance of 8/8 Murray located at 1,750.
Yesterday in the American session, XAU/USD came under strong bearish pressure. As a result, it failed to consolidate above the strong resistance of 1,735. We can see that gold found support around the 200 EMA on the 4-hour chart. Around this area is the psychological level of 1,700 which could offer a positive outlook in the coming days.
The US dollar index resumed its bullish cycle on expectations of an aggressive tightening by the FED. Markets are pricing in a 70% chance of an increase of 0.75% in interest rate in November.
Strengthening of the US dollar is benefitting Treasury bond yields which is a situation that means gold could once again come under bearish pressure.
According to the 4-hour chart, Gold reached the top of the uptrend channel. During a technical correction, the price printed a low of 1,700. From that level, XAU/USD rose again and could now gain momentum and reach 1,750.
On the contrary, in case gold falls below the psychological level of 1,700 and consolidates below the 200 EMA and below the 6/8 Murray, it could mean that the bearish pressure has resumed and could be a negative sign. In this case, gold could reach 5/8 Murray at 1,656 and could even drop to the psychological level of 1,600.
A sustained break above strong resistance at 1,735 is needed to challenge the 1,750 level. On the downside, critical support is seen between 1,700-1,687. A break of this level could change the trend and gold could turn bearish.
The strong support at $1,680 will be the last line of defence for the gold bulls. This level is located at 6/8 Murray (1,687). The price could drop towards 1,656 and 1,615 if it closes below this level.
Our trading plan for the next few hours is to buy above 7/8 Murray, with targets at 1,750. On the other hand, to grasp a good opportunity to buy, we should wait for a technical bounce around the 200 EMA located at 1,700, with targets at 1,718 and at 1,750.
The eagle indicator is showing overbought signals. So, if gold fails to stay above 7/8 Murray, it will be a clear signal to sell below 1,718 with targets at 1,697 and 1,685.