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Live Gold, Silver, and Platinum Price Charts
Precious Metals Price Chart: Gold, Silver, Platinum, Palladium
Precious metals price charts are a crucial tool for all types of investors to understand the market in order to set their strategies and set goals. For short terms investors, also known as traders, these charts play a crucial role in their day to day lives. They study the charts and watch the market consistently to catch every movement and earn on the short term gains. They gather the data from these charts over short periods of time to find the key support and resistance levels to place those trades. Long-term investors find Gold price charts to be essential for their investing, but in a different way than traders. They are focused more on the longterm trends and patterns in the charts rather than the short term. They use these price charts and watch the longer timeframes to understand potential long-term support levels, which could signal favourable times to purchase gold.Why Use Gold and Silver Price Charts?
The range of precious metals investors is quite diverse, they can range from individual small investors all the way up to central banks. No matter the size of the investor, it is imperative that they understand the precious metals market when investing. By using Gold price charts and Silver price charts, investors can be better informed on the current state of the market, and hypothesize on its potential next direction.How to understand Gold price charts?
Understanding Gold price charts is something that anyone can learn with some research and practice. To give you a basic run down on some of the components, here is what you need to understand:- Price unit: Gold is usually traded against a major currency, the most common would be the US dollar. So when looking at charts, we will normally see the trade pair of ‘XAU/USD’.
- Weight unit: The price shown is how much of the specified currency - in this case the Dollar - is needed to purchase one troy ounce. Which is also 31.1 grams.
- Time frame: The time frame can be adjusted based on the way you are investing in Gold. If you are a trader, you will typically be watching the hourly charts as that will give you the short term movements. If you are a longterm investor you will typically be watching the daily, weekly, monthly or even yearly Gold price chart.
Gold
$3,720.78
CAD
+18.72
0.71%
-18.72
0.71%
Nov 21, 2024 7:41
Bid $3,716.59
Silver
$43.71
CAD
+0.43
1.37%
-0.43
1.37%
Nov 21, 2024 7:41
Bid $43.60
Platinum
$1,359.18
CAD
+8.66
0.89%
-8.66
0.89%
Nov 21, 2024 7:41
Bid $1,348.01