Prior to the tensions in Russia and Ukraine, the world was already in hyperinflation because of the epidemic. Originally, along with the world economy rebounding strongly from the epidemic, as well as the Fed's expected interest rate hike, gold prices would have been under pressure accordingly. Unexpectedly, but also expected Russia-Ukraine war, and push the gold price to a whole new height, the golden era has arrived.
Under the influence of the Covid-19 pandemic, the U.S. inflation level soared to a nearly 40-year high, which has provided strong support for gold prices. At the same time, the Russia-Ukraine war fought beyond expectations, and global risk aversion was high, giving gold a strong, sudden upward momentum. Previously, on February 24, the international gold price rose to $1975.7, up to $65 that day. By March 2, the international gold price remained near $1,900 per ounce. In February, the international gold price rose 5.8% - the biggest single-month gain since May 2021.
Meanwhile, on March 2, international oil prices "soared" above $110, hitting an eight-year high, as investors worried about tight supply. Just two years ago, crude oil had fallen to negative values.
Higher oil prices could again add to inflationary pressures. Federal Reserve Chairman Jerome Powell said on March 2, that he expected it would be appropriate to raise the target range for the federal funds rate later in March because U.S. inflation was well above 2% and the labor market was strong.
The Federal Reserve is still planning to raise interest rates in March, but this expectation has been revised. Powell said that the current plan to raise interest rates by 25 basis points in March is still supported, while it is expected to be able to make progress on the issue of balance sheet reduction, but will not finalize the matter. This, along with the still-high risk aversion, contributed to another strengthening of gold prices. In the future, if international risk events continue to develop, the related impact will still have a supportive force on gold prices. If the International situation towards easing, gold prices short-term upward momentum will also disappear relatively quickly, back to "inflation - Fed rate hikes" the main logic.
Gold, with its dual properties of "anti-inflation" and "safe-haven", and crude oil, with its "upward trend", have been hot topics of interest to traders recently. The unprecedented changes have brought about a once-in-a-lifetime investment opportunity, and many people want to join in and make their own fortune from this fierce market.
There are many gold investment methods, each with its advantages and disadvantages. With investment opportunities close at hand, it is equally vital for traders to choose a method that suits them and a quality and reliable platform.
CXM Direct is a leading broker in the gold industry, offering clients a wide and diverse range of gold trading products. CXM Direct is proud of its gold products in particular and fully committed to providing you with the best gold investments possible so that you can trade gold more smoothly, at a lower cost, and earn even more money!
Without further ado, the actual results are the hard truth.
Lowest transaction costs in the industry:
CXM Direct's goal is to make its gold CFDs its main star product. Therefore, CXM Direct has spent a lot of money and effort on developing a very advantageous offer for its gold products, and its platform spread is also too low, as can be seen from the above chart. The average platform spread for standard accounts on the CXM Direct platform is only 26.45, and CXM Direct's ECN spread is only 7.45, much lower than its competitors' spreads.
Apart from spreads, CXM Direct has no other form of transaction fees to help you reduce your trading costs to the maximum extent, stable prices, objective and transparent, and is undoubtedly the lowest cost platform for gold trading in the industry.
A Trustworthy Trading Environment
Lower cost does not mean a decrease in the quality of the trading environment. On the contrary, CXM Direct, with its deep liquidity pool and advanced quoting technology, obtains the lowest quotes in the industry for our clients.
"CXM Direct provides extremely abundant liquidity with over 20 levels of quotes and can support up to 100 lots of a single order."
The concept of market depth may not be that clear to some traders. The real-time quotes you see on the MT4 trading platform are the top quotes in the current market, and those quotes are limited by the market depth, meaning that not all the orders at that price will be filled at that time. The rest of the orders will "slip".
Market depth is the number of orders that can be accommodated by the top-level offer, which increases market depth. In other words, each price level can accommodate larger orders than before.
For traders, this means that even in highly volatile markets, CXM Direct has less slippage than other platforms and experiences less slippage. At the same time, CXM Direct has invested heavily in a dedicated server for Asia Pacific, which has significantly increased the speed of order processing; allowing clients to get the best quotes in milliseconds and seize fleeting trading opportunities.
Trading with CXM Direct allows you to enjoy ultra-low spreads and ensures that your orders will be processed quickly and accurately, so you can trade large amounts of Gold with confidence.
Enjoy Smooth Trading
In addition, CXM Direct has several trading advantages.
In today's fast-changing global situation, the ability to quickly recognize and react to important events leads to investment success. CXM Direct gold products offer investors an easy way to trade precious metals on the spot, anytime, anywhere, 24 hours a day, relieving your worries and allowing you not to miss a single minute of opportunity. CXM Direct gold products adopt the T+0 trading model to speed up the investment cycle. There is no position limit and no redemption limit period. Whether it is long-term or short-term, investors have good profit opportunities.
CXM Direct gold products also support two-way trading, which can be long or short. Two-way trading significantly increases the trading opportunities for investors, allowing you to earn profits regardless of whether the market is rising or falling. CXM Direct also provides ultra-high leverage for gold products, which considerably increases the capital utilization rate of investors.
CXM Direct provides every customer with ultra-low spreads, abundant liquidity, market depth with over 20-levels of quotes, and multiple trading advantages. All efforts are made to ensure your trading experience is the best possible here.
Customer demand is our pursuit. We have polished every detail for you to get the lowest cost and the smoothest gold trading experience here.
