Gold, silver, oil and gas.
The instruments traders reach for when currencies look fragile — spot precious metals and the major energy contracts, quoted with competitive spreads through the trading week.
Precious metals
Spot gold and spot silver are quoted against the US dollar and behave partly as commodities and partly as currencies. Gold tends to strengthen when real interest rates fall or when confidence in paper assets weakens, which is why it is often held as a hedge rather than a directional bet. Silver moves in the same direction but with materially greater amplitude, because industrial demand adds a second driver.
Spot gold (XAU/USD)
Deep liquidity through all sessions. The reference instrument for defensive positioning.
Spot silver (XAG/USD)
Follows gold’s direction with roughly double the daily range. Size accordingly.
Crude oil
Both major benchmarks, sensitive to inventory data, quota decisions and geopolitical supply risk.
Natural gas
Among the most volatile instruments quoted anywhere. Strongly seasonal and weather-driven.
Financing on metals positions
Metals positions held past the daily rollover incur a financing adjustment in the same way currency positions do. Because metal contract values are large, that adjustment is a meaningful component of the cost of a multi-week position and should be included in the plan before entry rather than discovered afterwards.
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