- PPF Points
- 2,039
When people search for the ideal day of the week for trading in gold, the majority of skilled traders suggest Tuesday as the most profitable day. The second day of the week is already anticipated as the day wherein the financial markets experience full awakening after a slow start on Monday, which is the real start of the momentum. It is often noted that Tuesdays see not only more trading volume, but also more price movement, and it is on such days that clearer trends are constructed. They say “Monday blues” for the reason that the first day of the week sometimes is quite dull, that is, traders still are busy with weekend news and are waiting for more important events later in the week. Come Tuesday, the news cycle is in full swing, economic numbers start trickling out, and the biggest traders have woken up in the big cities of the world (from London to New York). The outcome is more liquidity to the market, thus ticks on spreads get narrower and reliable trading signals become frequent. Wednesday or Thursday may also be suitable days for trading, but usually, Tuesday is the best of all the three as it brings about the best conditions for trading yet it is risk-free. Towards the end of the week, due to position closures and the consequent effect caused by the closing market, it is not advisable to trade gold on Friday; while on the other hand, Monday is not the day because of the traders. Those who take their first steps in the trading of gold or those who seek to create new fields of revenue from gold trading will be able to achieve high levels of success if they get themselves into the loop and record the dependability of such weekly patterns in their trading journals. No doubt that, “best” could also relate to one's trading strategy and style, and so far, historically and practically, Tuesday had been giving traders that golden hour when gold trading is more active, responsive, and is fraught with opportunities.

