Jump to content

Bearish on Sterling Bullish On Gold


kabuki

Recommended Posts

Whats the most efficient way to trade on Gold  in sterling  (not dollar)?

The objective:  to profit from Gold  going up or standing still in dollars if the pound weakens against the dollar

 

 

Edited by kabuki
Link to comment

i wouldn't complicate it, do one or the other.  "Know" where gold is going and trade it

fluctuations in GBPUSD wont make great difference in short term.  I use ETF goldx3 leverage (Boost Gold 3x Leverage Daily ETP), however be warned, if you keep trades on for long time "fees" will eat into it, try and get in out on max weekly basis, have targets and get out, know your entry points, remember "well bought is half sold"!

Also remember, ETFs subject to trading hours and closed on US holidays, can be a bit scary if you forget..

You can do this in a SIPP or an ISA, that will give you the tax advantage.

 

  • Like 1
Link to comment

Create an account or sign in to comment

You need to be a member in order to leave a comment

Create an account

Sign up for a new account in our community. It's easy!

Register a new account

Sign in

Already have an account? Sign in here.

Sign In Now
  • General Statistics

    • Total Topics
      21,643
    • Total Posts
      91,939
    • Total Members
      41,930
    • Most Online
      7,522
      10/06/21 10:53

    Newest Member
    sanderahilmanders612
    Joined 27/03/23 20:01
  • Posts

    • Am I able to convert my share trading account from sterling into dollars to trade with, as I mainly trade US stocks?
    • Look Ahead to 28/3/23: Australia retail sales; Ocado, Walgreens Boots Alliance, Micron results Earnings take centre stage on Tuesday with results from Micron Technologies, Walgreens Boots Alliance, Ocado, and Bellway. Watch AUD/USD ahead of Australian retail sales data. Angeline Ong | Presenter, Analyst and Content Editor, London | Publication date: Monday 27 March 2023              
    • #EURUSD: Peculiar PatternI spotted a cup & handle pattern on ⚠️EURUSD on 1H time frame.1.0777 - 1.0783 is its neckline.If the price breaks and closes above that, I will expect a bullish movement.Goals will be 1.0843 / 1.0894If the price sets a new low, the pattern will become invalid.
×
×
  • Create New...