Gold Trading Issue

Why are the spreads on Gold so high and why do I keep losing?

What is your spread on Gold?
My crystal ball tells me that you are doing something wrong.
You can post your trading report for the last month or more and we will find out why you keep losing.

It's essential to assess your trading strategy. Market volatility, timing of trades, and the effectiveness of your analysis may also play a role

It depends on the number of liquidity provider that broker uses, its participation in market making (which should make spreads lower). Also gold is quite volatile which also negatively affects spread.

You have the wrong broker for trading gold.

What is the best broker for trading gold?

The best broker for trading Gold depends on a few factors such as: 1) your country of residence 2) Your trading style 3) Trading volume/ account size
All brokers have different regulations and not every broker accepts clients from every country. There are also limitations and requirements to min. account size/ lot size etc. which affects your trading. Then your trading style matters aswell, are you scalping, holding overnight trades (thats where roll-over and swap fees come into consideration). I can give you some recommendations to the best of my knowledge but would need a bit more info on your trading.

ALSO: if you are trading during news events, GOLD prices a highly affected - for example CPI news release this morning -> look at the chart of Gold today at 8:30 am EST NEW YORK and see how much the price moved. If you are trading during news the spread widens A LOT. Keep that in mind.

what are the usual spreads on gold? i dont trade xau much but if my memory serves me right somewhere between 25-30 points?

At my broker it's 200.
Also of money and ask price difference...
1972.000 >>> 1972.200

The spreads are a reflection of both the asset's liquidity and its volatility. Dealers use spreads as compensation for providing liquidity, and at times, they might widen the spread to ensure they are adequately rewarded for the risk of being on the wrong side of the market.

Gold spreads can be high due to its popularity and volatility. If you keep losing, it could be due to lack of knowledge, emotional trading, or poor risk management

Idk, my spread on Xau is around 3 pips, is it too much?
I don’t trade gold so much, so i really don't even realize what are the good spreads on metals.
I know that gold is quite volatile and maybe you have one of those things when spreads are widening because of that.
Or maybe it’s even more simple that this, and you just need to change the broker

Gold has a cent spread not pips.
Like 1937.70/1937.73 is a 3 cent spread.
1937.70/1938.00 is 30 cent spread.

Morning! Im new here and been trading for 5 months now.. And started a live account 2 weeks ago starting w 100€ (207€ currently) i was wondering what is the TF that suits gold better, i use the 5 & 15 min TF.. And what strategy could be good... Just using basic support and resistance basics now and patterns...

Thank you all fellow traders for your responses, weeks passed and I'm still losing, damn man

Why do you think it's because of the spread?

Did you try demo trading first or paper trading while ignoring the spread?