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Spot Trading

About Trading Gold Spot prices

Gold was in use as a form of money, in one form or another, at least from 2560 BC until the end of the Bretton Woods system in 1971. It was used as a store of value both by individuals and countries for much of that period. Since the end of the Bretton Woods system, gold has largely lost its role as a form of currency. The Central banks still use gold as a international trading and swapping currency. It is still considered by many as a store of value and a safe haven in times of crisis. Gold and other precious metals are assets that are both tangible and liquid (i.e. easily traded).

The usual benchmark for the Spot price of gold is known as the London Gold Fixing, a twice-daily (telephone) meeting of representatives from five bullion-trading firms. Furthermore, there is active gold trading based on the intra-day Gold spot price, derived from gold-trading markets around the world as they open and close throughout the day. Like all investments and commodities, the Spot price of gold is ultimately driven by supply and demand.Bullish investors may choose to leverage their position by borrowing money against their existing gold assets and then purchasing more gold on account with the loaned funds.

In order to keep the cost of debt to a minimum, these individuals would normally seek a loan in the currency with the lowest LIBOR, which as of April 2006 was the Japanese yen. This technique is referred to as a "yen-gold carry trade". Leverage is also an integral part of buying gold derivatives. Leverage may increase investment gains but also increases risk.

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