Lex begins with a historical background where he introduces some gold market facts, including why it was used as a payment method, and the reasons it was replaced by our so-called ‘fiat currency’ – or in other words, the money we use nowadays. The history of gold is incredibly fascinating as it explores the evolution of commerce and gives you a much better understanding of what you are actually trading.
The second area we will cover looks at the different reasons people like to trade or invest in gold. As Lex explains, knowing these is essential for your success because at different times different reasons dominate and dictate price action. Lex concludes by discussing the many different ways of trading gold. He introduces five instruments that give direct exposure to price movements in gold, and three other instruments that are indirectly correlated to gold as well. Lex will highlight their characteristics and explain how they differ so that you know which one is most suitable for your investing.