Gold prices are subject to fluctuation every moment. The price of gold depends on demand and supply and it trades on public exchange. People usually buy or sell gold to distribute or acquire physical gold. But the purpose of gold day trade is profit making from its daily movements.
What is Gold Day Trading?
Gold day trading works on short-term movements of prices. Instead of taking possession or handing over the physical gold, only profits or losses are shown in your trading account and mines financing is conducted online.
All the trades are closed out each day and profit is made with difference between the price of selling the contract and buying the contract. With the help of mining support services, you can get a gold account to buy gold in a safe way. All the transactions are done online. You can also keep track on the current market price of gold in real time.
Gold moves with increments of $0.10 on the futures exchange. It is known as the smallest ‘tick’ movement. Your profit or loss depends upon the number of ticks from entry point. You should know the tick value of contract to estimate the profit or loss.
