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If you are looking into gold trading as some type of income or perhaps purely for investment purposes there are particular factors you might want to consider beforehand. First of all, you need to decide which kind of gold you want to trade, whether bullion or equity. Each of these may then be broken down into both bars or coins and direct stock or mutual fund investment.

Another element you should look at is the kind of trading you would like, that is day trading, swing or position trading. In day trading, you'll be buying and selling your gold the same day without holding on to if for more than twenty four hours to avoid overnight interest charges.

Swing trading describes traders that retain their commodities for a medium time period whilst position trading might span years. This will depend on what your end goals are in your gold trading, whether you wish to purely build a revenue with regard to the short term or to make the best gold investment as a hedge for your assets for the long term.

Gold Trading: Bullion

In case you have decided to trade gold bullion then you must make sure to use a gold certificated dealer and be sure you are getting approved bullion market gold bars. Gold trading and price ranges can swing from the thrill of viewing paint dry out to a volatility which can leave you breathless, therefore it is not recommended to begin trading when you are a novice.

When gold trading you should remember that gold is greatly affected by fundamentals and a strictly technical method will not be the most effective tactic to consider. At the minimum, steer clear of trading when news announcements are made about indicators and forecasts as trading volatility can surge a few moments prior to and through the entire announcement.

The thing is that it doesn't always go in the direction you expect and although you may think you are able to make a lot by trading the news remember that you can quite as easily lose a whole lot.

Gold Trading: Stocks

Should you have elected to go into gold trading via a trade in a mutual fund or perhaps a gold mining corporation, then you'll have to do an in-depth examination of the company you intend to invest in.

You will want to study their annual reports, management staff along with the geological surveys so you can have a rough prospect of how much ore the company still has access to. You should also look at the trading graphs for that corporation's stocks to see the trend of the price. This would be an invaluable tool that may help you determine if the value is right for you to invest.

If you discover that the shares are near a historical resistance level then you can consider holding off on your investment until the price begins to retrace. If you don't see any major fundamentals impacting the share prices then you can consider the retracement a minor correction and buy when the price reverses once again.

One method to evaluate if price is reversing has Fibonacci levels as they quite simply have proven over time to be correct. Consequently if the price tests a Fibonacci level and doesn't break through chances are a reversal is occurring.

Gold trading is essentially like trading any other commodity except that price reacts inversely proportional to market sentiment, To paraphrase, the harsher the financial state the more gold trading takes place as well as the higher the purchase price.

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