I am curious how the following will affect the gold future price in the near future
Russian Ruble relaunched linked to Gold and Commodities – RT.com Q and A
With Russia’s central bank having just profoundly altered the international trade and monetary system by linking the Russian ruble to both gold and commodities, the journalists at in Moscow asked me to write a Q and A article on what these developments mean, and the ramifications of these changes on the Russian ruble, the US dollar, the gold price and the global system of currencies. This article has been published on the RT.com website
Regular readers will recall that I have contributed to quite a few RT.com articles before, such as about Australian gold (see BullionStar
, US Treasury gold (see BullionStar ), Poland’s gold (see RT site ), China’s gold (see RT’s Spanish site ), why buy physical gold (see RT site ), and gold price manipulation (see RT site
However, since RT.com is now blocked and censored in many Western locations such as the EU, UK, US and Canada, and since many readers may not be able to access the RT.com website (unless using a VPN), my Questions and Answers that are in the new RT.com article are now published here in their entirety.
If you are interested in trading gold you should definitely research this for yourself. From my experience, your friend isn't wrong. Gold prices tend to move a bit when economic data is released. Narrative forming data is often released on Thursday morning (I'm pacific time), but not always.
Again, this is for just one broker (and is not meant as a recommendation of that broker, particularly) -- but it can give you an idea. You will always want the "all in" cost, which includes pure broker commission as well as data and exchange fees, and you want it for the "round turn", meaning the buy plus the sell. That's the full cost of the trade.
Scroll to page 2, COMEX, and check out GC. You can see a range, for that broker, of $2.31 - $3.01, depending on the fees for the type of trading platform license you have. (You would pay separately for a "lifetime" or "lease" license for the software, which is why those costs are lower per transaction.) Not too different from the $3.00(ish)-or-under fee that they charge for CL. This is probably close enough on a rough basis for most brokers. Some may be lower, some higher, but that's a good general range.
Bob.
When one door closes, another opens.
-- Cervantes, Don Quixote
The following 7 users say Thank You to bobwest for this post:
.
