Day trading with gold and silver

New at Easy-Forex™:
Day trading with gold and silver
Easy-Forex™ enables its clients to perform DAY-TRADING in gold and silver rates against the US dollar.

The gold symbol is XAU, the silver symbol is XAG.

The price of gold refers to its price per ounce in USD. For example, if the price is 612.97, it means that an ounce of gold is traded for USD 612.97. Similarly, the price of silver as well refers to its price per ounce in USD. For example, if the price is 11.853, it means that an ounce of silver is traded for USD 11.853.

There are several weighing methods in the precious metals and stones markets, where the most common is TROY (a TROY ounce equals approximately 31.10 grams; where an AV ounce equals approximately 28.35 grams).

The trading with gold and silver rates is performed as it is done with foreign currencies, by the OTC method (over the counter). That means that the trading is performed directly between the two involved parties, and not via a third party which consolidates the trade (such as an exchange market).

Trading with gold or silver rates, as with foreign currency rates, is non-delivery trading, which does not require the "physical" purchase or sale of the "commodity".

Easy-Forex™ clients and traders, who wish to perform Day-Trading with gold or silver rates, will regard the gold (XAU) and silver (XAG) just as they treat any other foreign currency, however – the trade is done only against the US dollar (USD).
Please note that gold and silver rates are traded worldwide between 01:00-17:30 GMT, Monday through Friday, and that spreads are usually higher during after-hours.