Brokers have been busy cutting spreads over the last year across forex major symbols. Gold has been no exception to this, with gold spreads getting progressively lower.
We have now entered a new era of gold spreads however. Only one year ago brokers spread averages on XAUUSD were around a 20 cent spread. Now TradeProofer has been recording spread averages around 4-8 cents from leading brokers IC Markets & Fusion Markets.
What Are The Spread Averages
Last week Fusion Markets average XAUUSD spread for the week was 0.065 pips / 6-and-a-half cents. This is the lowest XAUUSD week spread average TradeProofer has ever recorded! This ranked Fusion Markets’ gold spread last week as #1, from over 50 different broker feeds.
IC Markets last week came in #2 on the XAUUSD spread average, with a spread of 0.079 pips / 7.9 cents. These spreads would’ve been thought off as impossible at this time last year!
This Is What Spreads Did In The Average Trading Day
TradeProofer’s spread aggregator selects a date range and shows what spreads did on a typical day during that date period.
Below we can see what XAUUSD spreads did on the average trading day last week. Throughout Asia session the spreads were widest, and spreads typically improved during the European Session and the North America session. The area that spreads go wide is known as illiquid hours or roll over.
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