Gold has cultural, industrial and financial value and has been the most highly desired of the world’s precious metals since ancient times. It was integral to valuation of the world’s currencies well into the 20th century, linked to the price of the US dollar until the early 1970s.
Gold tends to evoke a powerful emotional reaction in traders, leading them to large trades or add to a losing position. Remove this from the equation and try to think of the commodity only in terms of price movements. Here is how you do it. A goal without a plan is just a wish. Develop a trading strategy with a set risk-reward ratio, and stick to it.
Use charts to get an idea of how gold behaves over different time periods. Backtest, look for patterns, wait for breakouts and trade with the trend. Trend is your friend.
Gold has its own price drivers that you’ll need to watch when trading. Dollar, inflation and the anticipation of financial or political crises are among the major ones to follow.
Virtuse Exchange leverages Digital Asset Collateralized Contracts (DACCs), a model that allows to convert your cryptocurrencies into commodities, without having to move money from one wallet to another. The DACCs act rather like a stablecoin whose value can be pegged with a reliable price feed to the value of USD. You can buy and sell gold seamlessly and hold it on your private keys.
There are lots of reasons for buying gold now, we break this down to five:
To trade on oil prices with Virtuse Exchange, you’ll need to open an account. It takes a matter of minutes, can be done entirely online, and there’s no obligation to fund once you’ve finished your application.
However, you will need to fund before you place your first trade. Funding a wallet account is simple – you can use send USDT, Bitcoin, ETH to your wallet or soon will be able to fund it with a debit or credit card.