XAUUSD has finally broken the $1,700 resistance reaching the highest level since 2012. The strong rally continues since last week, while central banks are increasingly fighting the possibility of recession triggered by the global pandemic with stimulus packages and increasing money supply.
Whether you are bullish or bearish about gold, you can make substantial profit margin trading XAUUSD. With SimpleFX, you can open short or long positions on gold, with fiat money or cryptocurrency accounts, and up to 250 leverage.
The interest rates across the globe are already at the lowest levels possible, and the system is testing the trust in fiat money. Both gold and cryptocurrencies started the pandemic period with intense depth. Now the prices are recovering, and gold may benefit from the haven status.
Hedging against the monetary collapse scenario
So far, almost 300 different stimulus packages have been released throughout the world over the last eight months; which is an unprecedented event. The US President Donald Trump announced a record $2 trillion stimulus package last week.
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With SimpleFX, you can buy or sell (short) virtually anything. US, European, Brazilian, Turkish or Japanese stocks, commodities, gold, silver, forex pairs as well as for cryptocurrencies.
The best trading app
Their killer feature is SimpleFX WebTrader – the leading mobile trading app. With a smooth, responsive interface, it works on any device. Traders can analyze the charts and prepare their strategy on a laptop or desktop, and then make the right order at the right time anywhere with a smartphone.
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SimpleFX users can use 24 different fiat currency accounts (including Turkish lira or Indian rupee), and seven cryptocurrencies, which makes it so easy to use for customers from all over the world.
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