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|Product Type: Metal CFD||Market: Global|
|Currency: EUR||Measurement Unit: Troy Ounce|
Gold is an extremely popular soft metal that is traded worldwide on various exchanges – valued in terms of Euro. For centuries, gold has been considered a primary medium for exchange and it remains a leading global currency (1 troy ounce of gold is represented as XAU). One of the unique advantages of gold CFDs is that they can be traded 23 hours a day, almost every day of the year. Another important advantage is the metal’s high market liquidity, which allows traders to buy and sell contracts both quickly and easily. The process of determining the spot price of gold involves an estimation of gold extraction, production and existing bullions across the globe, while taking into consideration effects of economic and political events, general speculations and market behaviour, as well as the value of other currencies and commodities. Gold’s spot prices are calculated and published every few seconds during market hours.