Gold and silver are traded as spot while copper, palladium, and platinum are traded as CFD futures. Currently, we offer gold as XAUUSD The symbol for spot silver is XAGUSD. All metals (including spot and CFD markets) are available 23 hours a day from 6pm ET Sunday through 5pm ET Friday. Trading is closed from 5pm to 6pm ET daily; however, you may place new working orders or edit and cancel existing working orders during that time. Metal markets also follow CME holiday closures.
What is Metals Trading?
How do you Trade Metals?
There is no expiry date when trading spot gold and silver. As long as you maintain the required margin, your position will remain open until you choose to close it. As with forex positions, open gold and silver positions automatically roll forward to the next day’s value date following the close of NY trading at 1700 ET. The minimum lot size for gold is 10 troy oz. and the minimum for silver is 500 troy oz.
What are the Limitations?
The maximum position a client may hold at any given time is 10,000 troy ounces for spot gold and 250,000 troy ounces for spot silver.
Yes, metal CFD futures have fixed monthly or quarterly expiry dates thus any position you have will close automatically when the market expires. When the market is close to expiry the next contract month will become available for you to trade.
You can view a market’s expiry date in the Market Information Sheet on the FOREX.com desktop trading platform.