How to spread bet gold

Gold has reached new heights recently. As a spread better, how do you play the next move? Tim Bennett explains.

This week, the gold price hit a new peak of $1,600 an ounce. That's just over £1,000. Then it dipped a bit. So gold bugs are furiously debating where it will go next. I'll leave answering that question to our resident yellow metal guru Dominic Frisby. The one I want to deal with is how can a spread better play the next move?

The answer is - very easily. Many spread betting brokers now offer gold bets. Indeed, one of the biggest players IG index even has a G in its name that comes from the word gold. So, how does a bet work?

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Tim graduated with a history degree from Cambridge University in 1989 and, after a year of travelling, joined the financial services firm Ernst and Young in 1990, qualifying as a chartered accountant in 1994.

He then moved into financial markets training, designing and running a variety of courses at graduate level and beyond for a range of organisations including the Securities and Investment Institute and UBS. He joined MoneyWeek in 2007.