Using binaries to trade gold

As online poker is now mainstream, many players are moving to binary options as a new source of profit these days.

poker babe Shana Hiatt And one of the favorite underlying markets to trade binary options is the gold market, so here is an introduction to this fascinating market.

The Gold Market

If there is one thing that we prize, it is gold. For thousands of years, gold has been a driving force of civilizations. If not for gold, the drive to settle in the New World may not have been as strong. On that same note, the hunger for gold also destroyed New World civilizations that had existed for centuries.

Today, gold is still important but much more readily available. That being said, it seems to be more valuable than ever before.

As you would expect, of all the precious metals out there, gold is by far the most popular investment. Investors will purchase gold because it is a great way to diversify risk and gold is often seen to have a correlation with the price of oil. One reason for this is that gold is sold off when there is trouble in the economy, which can come about when there are problems with oil prices.

Gold was used as currency for centuries until the 20th century. During the 19th century, many countries implemented having a gold standard but this was suspended after the First World War. After the Second World War, many countries began to move away from using the gold standard. The United States abandoned it in the 1970s, and the last currency to become removed from the gold standard was the Swiss Franc, in 2000.

What influences gold?

The gold market is a highly profitable market for some. Today, the price of gold is based on supply and demand, including when the demand of speculation is involved. Today, most of the gold that has ever been mined still exists in some form. It is estimated that currently, all the gold ever minded totals about 158,000 tonnes. It is believed that if you took all the gold in the world you could fit it into a cube with sides that were 66 feet wide. Annual mining of gold over the past few years has been at about 2,500 tonnes. Of that, 2,000 tonnes goes to jewelry and industrial/dental production. The remainder of the gold goes to investors and gold funds.

There are several forms of gold that you can invest in:

Bars: By far the most common is gold bars and you can buy them at major banks throughout the world. Bars will vary in size but the one kilogram bar is by far the most popular. Bars carry lower price premiums than gold coins, but carry a much higher risk of forgery. To combat this, some bars have holographic technology implanted into them.

Coins: Another common way to own gold is through coins, which are priced based on their weight. The Krugerrand is the most widely-held type of gold on the planet. There is an estimated 1,400 tonnes of these coins in circulation today. Coins can be purchased from many dealers and again you need to be on the lookout for fakes. Fake gold coins are made with gold-plated lead.

Certificates: To avoid risks and the costs that are often associated with transporting actual gold, there are gold certificates. Banks can issue gold certificates based on the gold that is allocated or unallocated. Gold certificates are very popular in Germany, Switzerland, the United States and Australia.

Binary options: Binaries are new investment products that let you make short-term bets on various assets including gold. As always there are scammmers around so make sure to use one of the most reputable binary brokers. Gold binary options are particularly popular with day traders who like the ability to make fast trades based on news or technical indicators.


Even with gold from the gold market being a good investment, there is of course taxation related to it. Gold actually has a special position within tax regimes. In the European Union, gold trading on the gold market is actually free of normal taxes. In the United States, citizens can be taxed on their gold at 15 to 35 per cent depending on how they invest.

The Changing Price

The price of gold has changed greatly over the past 50 years. In 1960, it sat at just over $200 per ounce of gold. It remained steady until the early 1970s when the price began to slowly rise, hitting over $800 per ounce around 1975, then dropping down until about 1980 when the price suddenly exploded and reached $2,546, its highest level (adjusted for inflation) ever. The price then fell attain, going down to about $400 in 2000 and then began a slow and steady rise up that reached its highest point in 2010 when the price was nearly $2,000 per ounce. The price is now remaining steady after falling down to about $1,500 per ounce.

The gold market can be volatile, but it is a safe investment in the long run because people will always need to have gold.

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