Gold Futures Trading

Written by BK Shaw
Bookmark and Share

You have to pay attention to the clock when gold futures trading. Unlike the global spot forex markets, you do not have the luxury of being able to trade virtually around the clock. Unless of course you want to trade on foreign exchanges, then you might add some trading hours to your day. When you trade in the precious metals markets, be sure you are aware of the times the different markets open and close.

I remember first trading gold and being so happy because the gold market did what I thought it could. I called my client to get him out of the market, and we placed the sell order with the floor. At least we attempted to place the order, until I received the embarrassing feedback that I had placed an order after the market was closed. Not only did I have to let my client know of my mistake, I also got to worry about what the market would do the next day!

As with any futures markets or other financial markets, if you are going to enjoy gold futures trading, you must remember to trade with risk capital only. If you are going to trade on your own and you are buying or selling futures contracts in the gold market, I hope you have the time to watch the market. In times of geopolitical uncertainty, gold has been perceived as a safe haven. Imagine the move you might see in gold prices in the midst of geopolitical tensions!

How to Start Gold Futures Trading

Open up an account with a commodity brokerage. Decide whether or not you want to trade alone or with a broker. Do your due diligence on the firm and the broker, and then have some fun with gold futures trading!


Bookmark and Share