(PRWEB) March 02, 2014
With the recent upsurge in bitcoin trading, so too increased the desire to trade other commodities like Gold. Goptions, a binary options brokerage, has recently launched a new way of trading the shiny commodity using binary options. Until now, if a trader wanted to try to speculate on the price fluctuations of Gold, they’d have to use cumbersome futures contracts and other means of trading that were simply too difficult for the average trader, let alone a newly initiated individual into the world of trading.
Nearly each and every day evidence of Gold’s price fluctuations make the headlines. Of late, the price has seen a renewed interest after reaching a 3 year low near $1200. Since then, the price of Gold has performed incredibly well, rising all the way up to 1328 on the 17th of February. This 10% upswing has brought within a surge in interest in Gold trading and GOptions now provides even the most casual speculators a simple and easy way to get in on the action. With this financial instrument, traders need only decide if the price of Gold will head higher or lower and within what time frame it is expected to make this move. With normal futures contracts, the trader needs to do the same thing, but also must know how high or low the price will actually go. This makes it very difficult as it’s one thing to gauge the general trend or direction of the market but the actual distance the instrument will take during the period is an entirely other matter.
Daniel Gant of Goptions was quoted stating that “the new interest in the price of Gold as it relates to binary options has created a massive influx of new traders into the world of trading and we expect to see this trend continue well into 2014 and probably through 2015 as well. This is especially true if the price of Gold starts heading higher towards 2012 highs"
By trading binary options on Gold, Goptions provides a much cheaper way of getting on the bandwagon as well. With financial futures, a trader must put up nearly the entire price of the underlying asset. In this case, Gold would cost $1328 for just one contract. With binary trading, you’d need only $25 for a long term contract of 10 minutes or higher (you can trade contracts as far as 1 year away). With just $5, traders can trade “turbo” options of 30, 60, and 120 seconds. The ability to mix these trade types are part of what makes binary options trading on Gold so interesting and potentially profitable. The reason is, Gold is traded 24 hours a day and at times, it moves fast while at others it moves a bit slower. It can thus suit different trading styles.
This new way to take positions on the world’s first and only global currency is an easy way for new traders to get their feet wet in an interesting trading venue.