Gold / Australian Dollar (XAU/AUD)
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Gold / Australian Dollar (XAU/AUD) Trading FAQ
A contract for difference (CFD) is a type of derivative that lets you trade on margin, giving you more exposure to the gold market. This type of derivative is very popular. People instead buy or sell units of a certain financial instrument, which means they buy or sell gold units based on whether they think the price of gold will rise or fall.
For the majority of trading styles, the optimal time to trade is during periods of maximum market liquidity. The Forex market is most liquid during the time difference between London and New York business hours, which occurs on weekdays between 9:30 a.m. and 1 p.m. New York time.
Demand for gold, the amount of gold held in central bank reserves, the value of the US dollar, and the desire to hold gold as a hedge against inflation and currency devaluation all affect the precious metal's price movement today.
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