Comparison Notes. This table is not meant to be inclusive, spread betting services are also available with companies not listed here.
Gold Spread Betting, 3 July 2009
Gold closed yesterday at $940.75. A quick look at the 1 hour Gold Rolling Daily Candlestick chart from Financial Spread shows that, so far, the metal has been trading in a fairly tight range for the last few weeks.
Gold Spread Betting, 2 July 2009
This morning’s dollar strength is taking its effect on oil and gold. With the lack of impetus to renew buying and to push markets onwards the fresh highs are becoming a concern for the bulls.
Without any major move in either direction, it’s more sideways action for the time being (how original).
Gold Spread Betting, 1 July 2009
Gold closed yesterday at $938.05.
Gold Spread Betting, 30 June 2009
Dealers made a killing yesterday on the move higher in the indices, gold, oil etc etc as the early weakness failed to make any headway at all.
Punters have been quick to take profits though and for the most part (except for sterling where sellers are in evidence) have flattened books to see which way the wind blows this time.
Gold closed yesterday at $939.05.
Gold Spread Betting, 29 June 2009
Price Update - Gold closed last week up $5.90 at $939.15 (up 0.63%).
For all of the ‘talking up’ from the OECD the Swiss Central Bank intervened last week selling the Swiss Franc at the $1.0650 level.
The Franc is (like gold) a safe haven instrument and the return to the highs for the currency would indicate that a lot of money is unhappy with current conditions.
Gold and Oil have recovered some of the losses of earlier in the week now but the fact remains that there does not appear to be the kind of excess demand out there that would warrant a return to the highs once more.
Gold seems to have had its second play for the highs and while we are still within striking distance of the peaks it must be recognised that a physical asset, with no return, and which costs a considerable amount to hold is not exactly up to date with current electronic financial systems.
Wealth is held in computers not in bank vaults.
Gold Spread Betting, 24 June 2009
Gold closed yesterday at $922.50.
Gold Spread Betting, 23 June 2009
Gold continues to weaken although there is support bang on the $920 level we are currently trading. As the Indices weaken it has been usual to see gold benefitting from the fear induced but this time we have seen only selling.
Has gold lost its sparkle? Probably not yet but with so many high yielding areas to invest in it remains the last port of call for many bar the extreme pessimist.
Gold Spread Betting, 22 June 2009
Price Update - Gold closed last week down -$9.25 at $933.25 (down -0.98%).
Gold closed yesterday at $939.40. A quick look at the 30 minute Gold Rolling Daily Candlestick chart from Financial Spreads shows that, so far, the metal has been trading in a fairly tight range all week.
Gold Spread Betting, 18 June 2009
Gold closed yesterday at $936.50.
Gold Spread Betting, 17 June 2009
Gold closed yesterday at $928.35.
Gold Spread Betting, 16 June 2009
Gold closed yesterday at $938.90.
Gold Spread Betting, 15 June 2009
Gold is falling in harmony with everything else this morning and this must be something of a disappointment for the ‘flight to quality’ merchants.
The weakness of the dollar has helped in recent weeks to send the precious metal higher but there is a distinct feeling that investors now have more important things to worry about than getting sucked into another yellow metal bubble.
Continued weakness in equity markets would, no doubt, bring back the value proponents but with too many longs in place above the $900 level the fear must be growing of another sharp reversal of fortunes.
Price Update - Gold closed last week down -$37.60 at $942.50 (down -3.84%).
The above comments do not constitute investment advice and neither Financial Spreads nor Clean Financial accept any responsibility for any use that may be made of them.
Article provided / approved by Financial Spreads which is a trading name of London Capital Group Ltd which is authorised and regulated by the Financial Services Authority (FSA), FSA Register number 182110.
Free Demo Account
If you're looking for a free Practice Account / Test Account where you can trial spread betting, including commodities markets like Gold, then you can you can always try:
Each of the above currently offers a free demo account.
How to Spread Bet on Gold?
As with many markets, you can spread bet on the future price of commodities, like Gold, to increase or decrease.
At the time of writing the Gold (December) market is $837.3 - $838.1 with FinancialSpreads.com. This market expires on 27-Nov-07.
Therefore you can spread bet on Gold settling:
Above $838.1 on 27-Nov-07, or
Below $837.3 on 27-Nov-07
With the Gold market, you trade in £x per tick, where a tick is $0.1 of Gold movement. Eg if your stake was £2 per tick and Gold moves $1.2 then that would be a £24 difference to your profit / loss (12 ticks x £2 per tick = £24).
Gold Spread Betting Example
Let's say, taking the above spread of $837.3 - $838.1, that after your market analysis you feel that Gold will rise above the $838.1 mark by 27-Nov-07.
Therefore you buy at $838.1 for a stake of £1 per tick.
If by the closing date of 27 Nov the market settles at $845.7. Then your profit and loss is worked out by taking the difference between the final price of $845.7 and the opening price of $838.1 and then multiplying that by the stake per tick.
Profit / loss = (($845.7 - $838.1) / $0.1) x £1 per tick stake.
(ie the forecast price of gold has increased by $7.6)
= ($7.6 / $0.1) x £1 per tick stake.
= £76 profit.
However if the market didn't move as predicted and had the Gold market decreased then you would have lost on this spread bet. Eg if the yellow metal settled at $827.9, then:
Loss = (($827.9 - $838.1) / $0.1) x £1 per tick stake.
= (-$10.2 / $0.1) x £1 per tick stake.
(ie the forecast price of gold has decreased by $10.2)
= -£102 loss.
Where can I Find Live Gold Prices?
If you want to access live spread betting markets then you generally need to open an account with a spread betting company. Note that accounts are subject to status.
The spread betting companies listed on this site do not charge a fee to apply for an account.
If your application is approved then you can log on to their website and access their Live Prices and charts. There is no charge for looking at their prices.
The catch? You'll get the odd email or letter from them. The companies below also offer clients access to candlestick charts.
Of course, if you do trade then you should note that spread betting carries a high level of risk to your capital and you could lose more than your initial investment.
Live prices are available for account holders at:
Like live prices, if you want to access to candlestick charts then you generally need to open an account with a spread betting company. Note that accounts are subject to status.
If your application is approved then you can log on to their website and access their candlestick charts.
You can often alter the charts to see market data by the minute, by the hour, by the week etc. There are also other settings that you can easily add such as Bollinger Bands and Moving Averages.
Where can I find Gold Trading Platforms / Software?
Some of the trading firms offer software / trading platforms you have to download but most offer free web based platforms that allow easier access from home, the office and most other places with Internet Access.
The following also offer free live prices and charts:
Risk Warning: Spread betting carries a high level of risk to your capital. You may lose more than your initial investment. It may not be suitable for all investors. Only speculate with money that you can afford to lose. Please ensure you fully understand the risks involved and seek independent financial advice where necessary.
The above is not meant to be inclusive, spread betting services are also available with other companies.
The above comments do not constitute investment advice and Clean Financial accepts no responsibility for any use that may be made of them.
'Gold Spread Betting' by DB, updated 02-Jul-09
For related pages also see:
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Risk Warning: Spread betting carries a high level of risk to your capital and you may lose more than your initial investment. It may not be suitable for all investors. Only speculate with money that you can afford to lose. Please ensure you fully understand the risks involved and seek independent financial advice where necessary.
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