Dependence of the price of gold on the trading session on the stock exchange

This is not the first day that the price of gold has been moving in a price corridor, sometimes rising by several tens of dollars, then falling again.

It would seem that you can make money in the absence of a clearly defined trend, but for short-term trading there is nothing better than stable patterns and movement in the price corridor.

If the price repeats its movement day after day, then you can take this pattern when opening transactions and make good money on it.

At the same time, the main trend that can be noticed now is that futures are becoming more expensive or cheaper depending on the trading session.

 

Looking through news feeds every day, it is easy to pay attention to two such news - “Gold futures rose in price during Asian trading” and “Gold futures fell in price during American trading” investing.com

At first glance, it may seem that price fluctuations are quite insignificant, 0.3-0.8%, but taking into account the leverage

That is, if the amount in your account is $5,000, then in two trading sessions it is quite possible to earn from 150 to 400 US dollars.

The only inconvenience is that trading in America and Asia takes place at a not entirely convenient time - the trading session schedule .

The Asian session , during which gold prices most often rise, begins at night at 00:00 GMT and ends at 9:00 am. At this time, Chinese banks are actively replenishing their reserves of precious metals, thereby increasing demand.

That is, with the start of trading on Asian exchanges, it makes sense to open purchase transactions in anticipation of an increase in the price of the metal.

After 9:00 there is a European trading session, here with the same probability the price of gold can either go down or go up, if you do not want to take risks, it is advisable to close the deal.

The American session begins at 13:30 GMT and ends at 22:30. Lately, US traders have been actively shorting, which naturally causes the price of gold to fall.

It is natural that at this session there will be profitable sales transactions, which should be closed before the start of trading in Asia at 00:00 hours.

If you are not comfortable trading at night, you can entrust your transactions to pending orders , which will independently open a transaction if the price starts to rise and close it when it falls. The main thing is not to forget to set stop loss and take profit orders.

You can use leverage when trading gold with the following brokers - https://time-forex.com/vsebrokery/brokery-zoloto-serebro