Our Metals & Commodities

Trading Metals

Precious metals such as Gold and Silver are the oldest and most trusted forms of currency. Unlike regular currency trading, trading Gold and Silver with MYFX Markets requires no physical purchase of the commodity. The price of gold is measured by its weight. The price of gold is in reference to the price of one ounce. For example, if the gold (XAUUSD) price is $1,600, it means that an ounce of gold is traded at US$1,600. Similarly, the price of silver is its price per ounce in USD. If the silver (XAGUSD) price is $28, it means that an ounce of silver is traded at US$28.

Metal trading hours

Product Name	CODE	Trading Time Mon - Thurs	Trading Time Friday	Break
GOLD	XAUUSD	01:00 – 23:59	01:00 – 23:58	00:00 – 01:00
SILVER	XAGUSD	01:00 – 23:59	01:00 – 24:00	00:00 – 01:00

Trading Oil

Oils importance in the fuel industry makes it one of the worlds most essential and traded commodities
Because the price of oil is determined by a range of significant and sometimes unrelated factors, it is a highly volatile commodity. For example, economic supply and demand, political volatility in oil producing countries and even technological advancements in the production of alternate fuels have an impact on the price of oil.
When you trade oil with MYFX Markets, you’re not actually buying any physical oil. Instead, you enter into a contract related to the real price of the commodity. This type of instrument is known as a Contract For Difference, or CFD.