Precious metals on the turn?
Precious metals such as gold have long been the investment of choice in times of turbulence.
Wary of the constant threat of a US recession and a weaker US dollar, investors flocked to bullion. In early 2008, such instability led gold to hit record highs of $1030.80 an ounce, while silver touched an unprecedented $21.24 a troy ounce.
Such highs have not lasted however, with silver experiencing declines of 21% to $16.95 since mid-March, while gold has tumbled to around $890.
Take a position with IG Markets
Whatever your view, our Spot and Forward contracts let you go long or short on the price of Gold, Silver and other precious metals.
Spot Gold is traded in US dollar contracts with minimum deal sizes equivalent to $10 per point for a mini contract and $100 per point for a standard contract. Spot Silver’s minimum deal sizes are equivalent to $5 per point for a mini and $50 per point for a standard.
You can also gain exposure to the Gold, Silver, Platinum and Palladium via a CFD on one of our Exchange Traded Funds – ask our dealers for more information.
For more information on our Metals Contracts, with an example of a Spot Gold trade, plus all contract details, visit our Metals pages.
The above comments do not constitute an investment advice and IG Markets accepts no responsibility for any use that may be made of them.
12/05/08