Forex | Forex | GAIN Capital's FOREX.com Launches Gold Trading (26/02/2009 17:11:00)

GAIN Capital's FOREX.com Launches Gold Trading

GAIN Capital, a global provider of online foreign exchange (forex) services, today announced that its FOREX.com division is now offering spot gold trading.

"The current economic climate is generating a lot of market interest in gold," said Tim O’Sullivan, chief dealer at GAIN Capital. "Short term traders are taking advantage of the daily volatility and longer term investors are buying gold as a store of value in these troubled economic times and as a hedge against inflation expectations."

Gold climbed to an 11-month high of $1006.29/oz on February 20 before retreating back to $951.75/oz on February 25. Traders are now bracing for a continued technical showdown around the key $1000/oz level. 

"Spot gold is a natural product extension to our core forex offering," added Glenn Stevens, GAIN’s Chief Executive Officer. "Three of gold’s most powerful drivers are market factors that forex traders already follow closely: the strength of the U.S. dollar, the price of oil, and inflation expectations."

Benefits of spot gold trading at FOREX.com:

. Commission-free trading (pay only the bid/offer spread)
. 24-hour trading from Sunday 6 p.m. ET – Friday 5 p.m. ET
. Low 2% margin requirement
. Competitive dealing spreads, as low as .50 points
. Small contract sizes available (1 contract = 10oz)

For more information and to register for a free practice account, visit FOREX.com.
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