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Gold Trading Strategies

Of everything to invest in, trade in, buy, hoard or sell, gold is right up there at the top. Why? Because it has a long history of being valuable and even more importantly, it’s sexy. In the past, gold has been used to make peace between warring tribes, as a gift to bribe monarchs, to create religious idols, to fashion jewelry and at times it has even been used as currency. In fact, the US dollar was backed by gold up until 1971. Still today, central banks all around the globe have a store of gold to be used in an emergency. It is a volatile commodity, but those who have the patience to study its moves and learn its trends can uncover the high potential involved in trading gold. Watching the Relative Strength Index Gold prices have swung wildly since President Nixon lifted the lid on gold in 1971.…