How you can trade gold in forex ?

Have you ever had a gold ring to your friend as a sign of your true love? Gold was the metal most precious of the dawn of civilization. It is still considered the ultimate currency and the last store of value during this period of political uncertainty. For the past ten years, the gold market in a trend of spot prices, which recently passed the historic wall of $ 1,200 per troy ounce. After that there was a retracement and prices fell to about $ 1.100 an ounce, but this upward trend should continue for some time.
Over the past decade, many forex investors facing the town after the collapse of the stock market. Many small investors lost more than 60-70% of their savings accounts in the stock market crash. Now, the Forex is a great opportunity to make money. It is said that forex trading will make many millionaires in this decade.

Many people do not know what gold can trade in forex as well. Many Forex broker platforms used for currency trading, allowing the trade of gold and silver against the U.S. dollar (USD) from the same platform. These two precious metals are in high demand in the industrial sector and the global economy recovers from recession, the price of gold and silver is expected to trigger the industrial production picks up and consumers are starting to buy again. When you trade a currency pair, which is always in one currency and short the other. In other words, you buy one and the other to sell. In the spot Forex market
If the gold trade spot Forex, you trade an ounce of gold on the spot market compared to the U.S. dollar (USD). So as when you buy a currency pair when you buy gold at current, you take either a long or short position in gold against USD. There are many currency pairs that you can act as the GBPUSD, EURUSD, UADUSD, NZDUSD, JPYUSD. Gold spot forex is nearly identical to replacing a gold coin of the pair and the other currency is always in U.S. dollars. So instead of the gold trade in the Forex, you trade one troy ounce against USD. Interestingly, the symbol of this is with XAUUSD XAU is an ounce of gold. Now suppose that the price in the spot market is 1100 XAUUSD. What this means is that one troy ounce of gold in the spot market at the moment is equal to $ 1,100 USD.
Just like other financial markets, gold prices on the spot market has received a bid / ask spreads. So, if the bid is a 1110/1115, means that you can sell one troy ounce of gold on the spot market for $ 1,110 and buy one troy ounce of gold for $ 1115 which means you must pay a spread of 5 dollars per troy ounce of gold when trading online gold trading forex market.Spot is a fast-moving markets and circulation changes during the day.
Now the standard currency trading lot is equal to $ 100,000. But if the gold, Forex Standard Lot of 10 troy ounces of gold. So if you bid for a 1112/1117 and are interested in going along. In this case, you need to buy lots of gold, which is the same $ 11,170. Gold spot market is a fast moving market and the price quotes must be changed.