List of All Forex Currency Pairs According to Major

List of All Forex Currency Pairs According to Major Exotic and Precious Metals, Maybe you have given a gold ring to your friend as a token of one's true love? Gold has been probably the most precious metal from the dawn of civilization. It's still considered to be the greatest currency and the greatest store of value in times of political uncertainty. Going back a decade, the gold market is in a secular uptrend with the spot prices having recently breached the historical barrier of $1,200 per troy ounce. Next there clearly was a retracement and the costs did fall to around $1,100 per ounce but this uptrend is expected to keep for sometime.

Within the last decade, many investors turned towards forex following the historic crash in the stock market. Many small investors lost more than 60-70% of the saving accounts in the stock market crash. Now, forex is a superb money making opportunity. It will be said that forex trading will make many millionaires in this decade.

Lots of people don't know this that you could trade gold on forex too. Many forex broker platforms that you utilize to trade forex, allow trading of gold and silver against the US Dollar (USD) from exactly the same platform. Both these precious metals have high demand in the industrial sector and since the global economy recovers from the recession, the prices of gold and silver are anticipated to skyrockets as industrial production sees and consumers start buying again. Once you trade a currency pair, you go long using one currency and short on the other. Put simply, you only get one and sell the other.

In case there is spot gold trading on forex, you a3trading trade one ounce of gold in the spot market from the US Dollar (USD). So exactly like once you trade a currency pair, once you trade gold on forex, you are taking either an extended or even a short position in gold against USD. There are numerous currency pairs that you can trade just like the GBPUSD, EURUSD, UADUSD, NZDUSD, JPYUSD. Spot trading gold on forex is nearly similar with gold replacing one currency in the pair and another currency is obviously USD. So, in spot gold trading on forex, you're trading one troy ounce of gold against USD. Interestingly the symbol for this really is also XAUUSD with XAU representing one ounce of gold. Now, suppose the price quote in the spot market is 1100 XAUUSD. What this means is this 1 troy ounce of gold in the location market right now's add up to $1,100 USD. The same as every other financial market, the price quote in the gold spot market has a bid/ask spread. So if the price quote is 1110/1115, it means that you can sell one troy ounce of gold in the location market for $1,110 and buy one troy ounce of gold at $1,115 meaning you will need to pay a spread of $5 per troy ounce when trading in gold in the location market.Spot gold trading on forex is a fast paced market and the spread keeps on changing through the entire day.

Now a regular lot in currency trading is equal to $100,000. But in the event of gold on forex, a regular lot is corresponding to 10 troy ounces of gold. So, if you discover the cost quote to be 1112/1117 and you're enthusiastic about going long. In that case you must buy 1 lot of gold that is equal to $11,170. Spot gold market is a quick market and the cost quotes carry on changing. So, suppose just after 60 minutes, you discover the quote to be 1120/1126. You see a profit and decide to get out selling at $11,200 making a gain of $30. Now if you had used leverage, you would have needed a much lower initial investment to produce a profit of $30 in only 60 minutes.