What Is The Best Time To Trade Gold In South Africa

What is Gold?

Gold is a chemical element with the symbol Au and atomic number 79. It is a bright, slightly orange-yellow, dense, soft, malleable, and ductile metal in pure form.

Chemically, gold is a transition metal and a group 11 element. It is one of the least reactive chemical elements and is solid under standard conditions.

What Is The Best Time To Trade Gold In South Africa?

The FX market is open round the clock from Monday to Friday, allowing you to trade XAU/USD anytime on weekdays. Despite this fact, some time of the day is particularly favorable for gold deals. This is when large market players trade it, ensuring the highest liquidity in the market.

This time of the day coincides with the operating hours of the American trading session. A bit less activity is observed in the market during the European trading session and even less during the Asian market hours. See the schedule for the major trading sessions below.

Asian trading session (Tokyo)2:00 am – 8:00 am
European trading session (London)9:00 am – 5:35 pm
North American trading session (New York)2:00 pm – 10:00 pm

Thus, if you want to trade gold during the most advantageous time of the day, try to schedule your market operations for afternoons and evenings (South African time).

Is it good to trade gold at night?

Forex traders can trade gold at any time of the day or night, as the forex market operates 24 hours a day, five days a week. However, the best time to trade gold is during the hours when the market is most active and volatile.

How to trade gold successfully?

Open a live account

  1. Learn what gold investing and trading are.
  2. Understand what moves the price of gold.
  3. Decide how you want to trade or invest in gold.
  4. Create your gold trading account.
  5. Find your golden opportunity.
  6. Open your first gold trade.
  7. Monitor your trade and close your position.

Is gold easier to trade than forex?

The forex market is more liquid than the gold market, meaning it is easier to buy and sell currencies at any time without significant price movements.

In addition, there are many more market participants in the forex market, so significant moves are less likely than in gold.