Historically gold coins were used as currency; once paper money was introduced in the 1800′s gold became less commonly used as currency. In actuality paper money as we know it today is simply a receipt which is redeemable for gold. Today buying gold is thought to be a natural way of hedging against world inflation and together with the rise of oil prices has shown strong connections to global growth. In September of 2011 Gold prices surpassed 1,800 per ounce, which just 10 years ago gold traded around 400 dollars per ounce. Now that trading gold on binary options is available its a quick way to make an almost guaranteed income.
Gold is easily the most commonly traded commodity on the market. Many traders consider it a safe haven when other markets are falling. Because of this the price of Gold has risen dramatically over the past 10 years. In the year 2000 Gold was trading at just around 200$ – 400$ per ounce. Now gold has surpassed well over 1,800$ per ounce. There is no reason to think that these prices will go down as investor confidence in the US dollar continues to fall. When considering gold trading in binary options make sure to choose your entry rates carefully as well as your expiry times.
Trading Hours: Mon – Fri 00:00 – 23:59
Trading Symbol: XAU