Do you consider gold while trading forex?

What do you think?

It's a commodity isn't it? Nowhere in the world actually uses gold as a currency anymore. It may be exchanged for currency, as with any commodity, but can walk into shop and buy something with gold? They would ask you to convert it into money first, then come back.

Is that the definition of a currency? Not every currency is accepted in a country. Sometimes, it can also depend on the country.

You are right in what you say, but then again, almost all currencies are backed by gold. For instance, USD is backed by gold reserves and many countries hold USD as reverses so...

Up for more discussion!

I have never considered gold while trading in forex because for some strange reason although I know about it, it has never come to mind. I stick to oil only and some others. I am an opportunist and I have to say that he value of gold is not looking as good as it did in the past. I don't want to be investing in something that may not give me what I want in the end. It would not be a good experience and I know it. If gold gets to a better place than I might consider it during that time but for now I just stick to the ones that I know.

During the great depression, America had to drop the gold standard because the country was in a deflationary spiral.
Having every dollar backed by physical gold made it difficult to control inflation.

These days they just print as much as they like of course... And print they do

It amazes me. How much in U.S. Treasuries dose the Federal Reserve own? Debt just keeps growing, of course interest rates are worthless. They can't stop, they're in Too deep. If they do stop it would be complete economic ruin.

If you traded AUD pairs, you will Know having Gold up on your charts helps with timing your AUD trades.
Trading Gold feels very much like trading GBP pairs on steroids .

Hi,
Gold backed, not CFD

https://nbhm.eu/
and
https://www.btse.com/en/home/ ( For XAUT or PAXOS)
Have a good WE,

Tomcat98

what are you talking about ? Gold is the best thing to day trade all day.

I think administrator changed the name of this thread.

Yea, my original title was "do you consider gold trading forex"; shrugs.

I didn't say it isn't...

In many countries to can walk into a gold shop and buy or sell with prices moving in relation to the market. Many in Asia and Middle East that I know of.

Yes Enarco the finest gold in the world is mined in Kalgoorlie Western Australia and minted in Perth...in second place is Canada...
I trade gold rather gingerly, some massive profts too ...BUT I dare not leave it too long ,its likely to shift real quickly....