Gold is one of the options for stable and win-win investments. The precious metal cannot lose its price drastically, so it is considered that transactions with xauusd are the least risky trading option, with good profit potential. Regardless of how long this asset is kept in the portfolio, its value balances within acceptable limits, and the price, compared to other goods, does not fall too much.
Rules for successful gold trading in Thailand
You can easily buy gold in the Thai market as well as sell it. In this regard, the country’s policy is very loyal, and both traders and the country receive their benefits. It is worth noting that such advantageous conditions are offered in two cases: with the physical purchase of gold bars, or with the state of trading on the Forex market.
For a forex broker to get the maximum benefit from such transactions, it is worth following several rules:
- Focus on the long-term holding of the asset;
- Sell gold only when it is economically feasible and profitable: 2-3 times a year such ideal moments come.
Such a strategy will bring you a profit of about 3 percent per year. At the same time, it has never been so easy to exchange gold for other currencies. This can be done directly in the forex market, and it is extremely convenient.
Gold is a part of Thai culture, so it is the best market for trading precious metals, both in physical form and in the format of exchange futures and OTC spots. The market is vivacious and competitive, so investing promises to be quite fruitful.
Day trading of gold in Thailand is available to traders. If you prefer to avoid playing long, and you like the day trading style, then such an option is in front of you. Despite the above advice to exchange gold for other currencies no more than 3 times a year, it is thanks to day trading that the liquidity of the asset is preserved, and its prospects are ensured.
If you like the day trading format and aim to close the most profitable XAU/USD trades, try to choose the hours between 15:00 and 23:00 (GMT+3) for this pair. The reason for that is very simple. It is during this period that the volume of gold trading increases dramatically, and you have the opportunity to use assets during trading hours to search for successful and profitable offers. Of course, at the same time, you should also focus on the accompanying factors, in particular, analyze the market and follow the events in the world, if they can provoke the movement of the price in one direction or another.
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