GOLD TRADING AND FOREX

 In forex education in ghana

Gold trading is easy to understand, especially if you have already gained some experience of the forex market. And you can learn how to trade forex in Ghana. Gold units are measured in ounces against a currency-usually the dollar-in a similar way to the forex currency pair.

Trading in this precious metal in interwoven with the trade if the currencies and with the financial markets in general. (source: FOREX TRADING, INVESTMENT IN THE FOREIGN EXCHANGE MARKET by Lennis Glover. www.forexaca.com)

 

The factors that may cause the movement of gold price include :supply, demand, market volatility,Greed and fear, supply and demand.

Case in point, on January 3,2020 Qasem Soleimani was killed in a targeted U.S. drone strike. prior to that day, gold prices was hovering around 1523. But from 3rd when he was killed, it caused many investors and traders to believe that a war between Iran and USA was imminent. This caused many investors to put their money in “safe haven investments”. These safe haven investments are the go to for most investors when they have fears of a us dollar value drop. Just as in the case of the 2007/8 world recession which saw a massive spike in the price of gold.

 

By January 7th, gold price went to close to 1610. this is a clear example of investors running to trade in gold after market volatility and fear. Since then though, gold prices have dropped to 1550 as at the time of writing this piece.

 

How can you as a trader or investor enjoy and make some money from these global activities??? Come to Forex Trading Academy in osu to learn all of it in our easy to learn and practice workshop where we train people to trade on the global financial markets

 

Frank Nana Tannor Danso

Currency Trader/Analyst

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