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XAG/AUD

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History of Silver

Humans were connected with silver for more than five millennia and gave birth to empires. It offered the means to lift ancient trade out of the barter system. Silver demand includes currency, art, investment, industry and medicine since ancient times. Today, there are various silver-based instruments available for trading and investment. These include silver options, silver futures, silver ETFs, or OTC products like mutual funds based on silver.

History of the AUD

The Australian dollar is the official currency used in the Commonwealth of Australia, with the symbol $ and is known as the “Aussie”. Commonwealth of Australia states includes Norfolk island, Cocos islands, Christmas island, Pacific island states, and Australia. The Australian dollar (AUD) is the 5th most traded currency globally ranked by the Foreign exchange market. Australia’s economy has strongly developed and established by importing and exporting products globally. In 2011, the country was ranked in 13th place for the biggest economy by GDP.

SILVER v AUD Forex Chart
Instrument: SILVER
Currency: AUD
Spread: 0.066
Leverage: 10.1
Margin: 0.1%
Increment: 0.01
Quoted Months: None - Spot Market
Trading Hours (GMT): 01:00-23:59
Exchange: #NA
Units: Troy Oz
Minimum Trade Size: 1.00
MT5 / MT4 Symbol: XAGAUD

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Silver v AUD Trading Trading FAQs

How to Trade SILVER CFDs?

Today, silver trading has been easier than ever. Traders should follow a dedicated set of strategies following the market in order to make informed decisions. The Silver market needs to be analysed and find out how it is acting up lately. After you make a comprehensive analysis, there is an option of using a demo account at first. With a demo account in your CFD platform, traders can practice with virtual funds and build confidence. It is also important for traders to research what determines the sliver price so they can know when to sell and buy. If you are new to trading you should limit your leverage and use stop-loss orders to minimize the risk. The CFD platform will automatically close the trade if it reaches a certain level.

What is the best time to trade SILVER AUD?

To maximise profits on XAG/AUD, traders concentrate their efforts on the most active trading hours, which are justified by large trading volume. Around 07:00 – 17:00 (GMT) is the busiest period of the day for silver trading. Traders should not dismiss occurrences that have the potential to cause major fluctuations in the gold price.

What affects Silver prices?

As silver has to be mined from the ground, its supply is usually inconsistent with demand. This leads to fluctuations in its price. In 2014, Mexico was the world's main silver miner producing 5,000 metric tons. Ηolding 20% of the world's consuming silver, the USA becomes the leader, and China, with approximately 18% comes second along with India.

Economic growth affects silver prices more than it affects gold prices. Silver’s physical strength, malleability, and conductivity are used in various industries, increasing its industrial demand. Silver is being used in the movie industry to create sensitive materials reflecting the light, in the military to tomahawk missiles and jewellery. As a result, the demand from any of these sectors leads to a change in its price.

Where Can I Find a Trusted Forex Broker to Trade SILVER?

Where Can I Find a Trusted Forex
Broker to Trade SILVER?

FP Markets , is a fully-regulated broker that offers all types of platforms and accounts to suit every need. FP Markets - Full MetaTrader suite, competitive pricing.

Why Trade XAG/AUD with FP Markets? An Australian-regulated forex & CFD broker