Trade in Gold Rises at the Expense of Meme Stocks and Crypto

SourceThe Fintech Times
SectorFinancial Markets
CountryMiddle east

In the first two weeks of July 2021, gold was the most traded market by clients on globally. Gold remained the top-traded market for seven out of 11 trading days this month (between 1-15 July 2021). This marks a significant shift in trading behaviour from the previous month where trading activity in gold was less popular compared to trading activity in so-called meme stocks and cryptocurrencies .

In June, Gold was the most traded market in just one out of the 22 days (between 1-30 June 2021), while derivatives on AMC and cryptocurrencies made up the rest of the month’s most traded markets on the platform. Cryptocurrencies are not available to clients who are residents in the UK. The pickup in trading derivatives on gold reflects a wider change in trader sentiment as markets turn more cautious this week. David Jones , Chief Market Strategist at European investment trading platform, said: “The nagging worry for investors more...