GOLD SILVER TRADING ONLINE
GrandBrokers works with brokers who offers online trading of spot gold and spot silver, all with the same quality of execution and pricing as our other trading products. Both products are available in all our trading platforms, including mobile apps. Trading is commission free and benefits from low spreads and low margin requirements.
- No commissions, no fees
- Low spreads so you make the most out of every trade
- Low margin requirements
- Gold & silver real-time news, research, and trade ideas
- Smaller contract sizes with with mini-gold and mini-silver
Benefits of trading gold and silver online
An increasing number of our clients trade commodities and precious metals - predominantly Gold, Silver, and Oil. Commodity prices are influenced not only by economic factors, but also by political or environmental factors that can affect risk and supply. This price volatility creates numerous trading opportunities for traders.
Investing in gold or silver can also provide investors with the possibility to hedge their portfolio of investments in currencies or other asset classes during times of turmoil and financial instability, and benefit from the safe-haven status of precious metals.
|Instrument||Lot Size||Spread as low as||Margin requirement||Leverage|
|Gold Mini (5oz)||5||0.25||1%||1:200|
|Silver Mini (200oz)||200||0.040||2%||1:200|
In the trading platform gold and silver prices are quoted in US dollar per ounce. Gold may be referred to as XAUUSD and silver as XAGUSD.
Trading hours for Gold & Silver are from Sunday 23:00 GMT to Friday at 22:00 GMT. Please note however that due to lower liquidity on global markets, gold and silver trading is closed every day from 21:00 GMT to 22:00 GMT.
A few words on the history of gold
Both gold & silver have been used as a store of value and a means of exchange since ancient times. Today they continue to fill similar roles in the modern society. Out of the approximately 175 thousand tonnes of gold worldwide, about 50% of physical gold is held in the jewelry market segment, 20% is held by central banks as a portion of their reserves, 15-20% is held by investors as bars or coins, and 10-15% is used in industrial processes and products.
The part held by central banks varies greatly from country by country - for example, the United States' Federal Reserve, with the world's largest gold reserves, holds approximately 70% of its reserves in gold, whereas the Swiss central bank (Swiss National Bank), holds less than 10% of its reserves in gold. The percentage is approximately 65% for Germany, France and Italy, but it is only 15% for the United Kingdom. China holds only 1-2% of its reserves in gold - many investors believe that China will increase its reserves and any such rumor boosts gold price. Overall, the central banks and the International Monetary Fund (IMF) hold some 32 thousand tonnes of physical gold. In comparison, the total amount of gold held by gold ETFs is less than 1500 tonnes.
Gold has always played an important role in the monetary system. Up to the first world war, different forms of Gold Standard were used by industrialized countries. Under the Gold Standard the value of a unit of currency of a country is based on a fixed quantity of gold. This meant that the amount of money in circulation was backed by and limited to the gold reserves held at the central bank. The first World War, the resulting national budget deficits, the Great Depression in the US, all led to partial or full abandon of the Gold Standard by many countries. Following the second World War, the Bretton Woods Agreements established a so called gold exchange standard under which many countries fixed their exchange razes relative to the US dollar. The central banks could, if desired, exchange their US dollar holdings into gold at the exchange rate of USD 35 per ounce of gold. In 1971, Richard Nixon ended the convertibility of the dollar to gold.