A Beginner's Guide to Buying Gold on the Exchange
For the past few years, the global economy has been on the brink of collapse, with central banks actively printing money, thereby intensifying inflation.
More and more analysts are predicting the imminent collapse of the global financial system, the first harbingers of which were the bankruptcies of major banks.
Robert Kiyosaki, the author of the well-known book "Rich Dad, Poor Dad," states that the crisis will primarily affect assets such as real estate, stocks, and bonds; ordinary currency will also depreciate.
According to Kiyosaki, the best investments now are in cryptocurrencies, silver, and, of course, gold.
A quick guide to buying gold on the exchange
To open a buy trade, you must first register with a brokerage firm that doesn't limit the duration of trades on the XAU/USD pair. This is because you don't know how long you'll hold the position.
One of the brokers listed on the page " Brokers for Gold and Silver Trading " is suitable for this purpose. Registration, account funding, and document verification usually take no more than an hour.
Next, download the MetaTrader 4 trading platform from the broker's website and install it on your computer or mobile phone. MetaTrader 4 instructions .
This program has an intuitive interface, so it will take a minimum of time to master it.
To buy gold on the exchange, you need to open a trade on the XAU/USD pair. To do this, select this asset in the market overview:
To open a trade, click on the asset to open a new order window, and then click the Buy by Market :
When opening an order, it's advisable to also set the Stop Loss (below the current price)—the price at which the position will be automatically closed—and the Take Profit (above the current price)—the profit level at which the order will be closed.
After this, your trade will be opened and all you have to do is wait for the price of gold to rise and make a profit.
For example, a position I opened less than two months ago generated over $130,000 in profit from an initial balance of $4,445:
Clearly, such a deal is a stroke of luck, but in the current situation, you have every chance of repeating it. By all accounts, the price of gold is only set to rise in the near future.
To track the price and choose the best place to open a trade, we recommend opening the XAU/USD chart:
To do this, select XAU/USD, right-click and select “Chart Window” and then switch to the tab in the open charts window.
You may find the following related articles helpful:
Scalping on XAU/USD - https://time-forex.com/skalping/skalping-na-zolote
Factors Affecting the Price of Gold - https://time-forex.com/vopros/faktory-zoloto
Gold trading on the trading platform - https://time-forex.com/interes/torg-zoloto-terminal
