Best time to trade XAUUSD in Nigeria

Nigerian traders should be on seat between the hours of 2PM to 6 PM when both London & New York is awake and their trading paths intersect or overlap. You will tend to get lower XAU/USD spreads when you trade during this time in Nigeria.

Also note that economic data release such as NFP & CPI can also affect XAU/USD as seen in the screenshot I attached which shows XAUUSD reaction to CPI release.

Gold becomes more active when London and New York session overlap because these are the sessions with the most volume.

Why?

1. Big institutions trade Gold heavily and these institutions are always active during this overlap session.

2. News release from the US impacts Gold prices.

Gold is always slow during the Asian session which takes place 12am to 7am daily.

Gold is traded globally so if you are trading a pair like XAU/AUD then you best trade it during the Asian session. If you are trading XAU/USD you best trade during New York etc.

You can trade gold during the London session ( 9 am to 4pm) or during the New York session ( 3 pm to10 pm) in Nigeria both times work well and you get low fees. The Asian session is good too but you face higher fees

The best time to trade xauusd in Nigeria is at the beginning of the Frankfurt session by 7 am UTC+1. The Frankfurt session starts one hour before the London session so this should make it easier to understand.

Its best to trade gold in the morning from 7 am when the Frankfurt session starts, by doing this you will be able to catch the direction of the market early and ride it into the London session which starts by 8 am and into the NY session which starts by 1 pm. The times I have mentioned here are adjusted for daylight savings.

London or NY session

Nigerian traders should always position themselves in the morning to trade xau/usd, I am talking from 7 am. Its important you catch the early morning move, so you dont have to chase the market