Gold is stuck in a range. Here’s how to get paid while you trade it

Quick one on gold this week, then something that puts money back in your pocket if you trade it.

Where gold is

Gold has been stuck in a range all week, roughly $4,075 at the bottom and $4,220 at the top. This morning it was trading around $4,180.

Two things are pulling against each other. US inflation came in hotter than expected, and the market now expects the Fed to raise rates again in December. Higher rates usually weigh on gold, because gold pays you nothing to hold it.

On the other side, the dollar is having its first down week in over a month, and central banks are still buying. That keeps a floor under it.

So it’s a tug of war. Gold is well off the September highs above $4,400, but it isn’t breaking lower either. The next big date is the Fed meeting on 28 October. Expect the range to get tested around then.

The part most traders ignore

A market like this means lots of short trades in and out. Every one of them costs you spread and commission. Most traders never think about getting any of that back.

You should. When you open an account through a partner link, the broker pays that partner for every lot you trade. I give you half of mine.

Open your account with Vantage, a regulated broker I’ve worked with for years, through my link and you get three things:

• 50% cashback on every trade. On gold that’s about $3.50 back for every lot, paid to you automatically.
• Free daily gold signals on Telegram and by email.
• One to one help from me on WhatsApp. Questions about a trade, your account or your broker, I answer myself.

Trade 20 lots of gold a month and that’s around $70 back, every month, on trades you’d be doing anyway.

Get your 50% cashback here

Join the free gold signals on Telegram

Already trading with Vantage? Message me on WhatsApp and I’ll help you move your account under my link.

Kyri

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This post is for information and education only. It is not investment advice or a recommendation to trade. Trading gold, forex and CFDs carries a high risk of losing money. Only trade with money you can afford to lose. Kyri Wealth is not a broker. It is paid by Vantage for clients it introduces and shares 50% of that with you as cashback. Cashback figures are estimates and depend on your account type and what you trade. Full disclaimer.