Gold is an instrument, which is one of the most widely traded commodities in the world.
Such a precious metal, which has been used as a currency and we can say it a store of value for hundreds of thousands of years.
Gold is considered as a safe haven investment, when the market is volatile.
Can I trade gold as a beginner?
Yes, Gold can be traded as a beginner, but when we have a sufficient technical as well as fundamental knowledge about the market.
We must know about the supply demand, trend-lines, trends of the market.
We must practice on the demo account before going to the real one. As compared to the other currency pairs, the price of Gold is higher.
If EURUSD price is just $1.0737, on the other side the price of Gold is $2250, when I am writing this article today on 2nd April 2024.
If you are beginner and learner, then I will recommend you to trade small currency pairs like GBPUSD, EURUSD, EURJPY, GBPJPY or any other pair in the starting.
Gold is very volatile and its price is also higher than the currency pairs.
As a new or beginner trader, we must avoid to trade Gold for some time, when we have the grip to the trading.
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