Are you looking for the best binary options brokers where to trade gold? Find here a comparison table designed to make it easy for you to find the best binary option broker for trading gold. It contains the payout, the return to loss, contract types and expiration times for every trusted broker listed in the table.
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Binary Options Gold Trading
Gold is the world’s oldest traded commodity and is regarded a safe-haven store of wealth. Historically it has a negative correlation with the US dollar, although over the past few years this relationship has weakened. Gold exhibits a positive correlation with the Australian dollar and the Swiss Franc.
It is a volatile item and its daily pips go between 1,000 to 20,000 pips. Such volatility can lead you to the right direction if you set an appropriate strike price and date of expiration. While with traditional trading your gold futures purchase might take months or longer before you will see a profit, with binary options, you can execute trades that last as little as 60 seconds. There are only two possible scenarios when you trade gold binary options – you either lose all the money you bet or you win an amount of money determined by the return rate offered by your broker. Usually, gold binary options offer a return rate of up to 81%, but this entirely depends on the type of binary options you are trading and the brokers where you are trading on.
Type of Gold Binary Options
These are the usual contract types that can be used to trade gold in the binary options market.
- Up/Down: Predicting if the GOLD price will go up before the expiration time comes.
- Touch options: Predict if GOLD will touch any strike at its expiration.
- In/Out: Predict if GOLD will stay within two predetermined strike prices.
Factors Influencing Price of Gold
- Political factors (war, national macroeconomic policies, economic emergencies).
- Central bank involvement in the gold market.
- Investors (speculation and stockpiling).
- Industrial demands for the metal.
- Mining companies (production outputs)
- Demand for jewelry.