ACE Markets Trading Platform

An Observational Framework from Candlestick Charts to Commonly Used Technical Indicators

Mon, 21 Sep 2026 10:02:23 +0800

In precious metals trading such as gold and silver, besides focusing on the macroeconomic and supply-demand logic behind prices, many traders also use technical analysis to observe market rhythms. For beginners, understanding the basic concepts and application boundaries of technical analysis is a first step in establishing a judgment framework. This article introduces the basic usage of candlestick charts, trends, support and resistance levels, and commonly used technical indicators in a popular science style.

I. What is Technical Analysis?

The core of technical analysis is the study of price and trading behavior itself. It's based on the simple premise that market information is already reflected in prices, and observing price patterns provides a reference for judgment. Technical analysis doesn't offer definitive conclusions, but rather a framework for observing the market—its value lies in helping traders structure market trends, not in drawing conclusions for them.

II. How to read candlestick charts: from single candlesticks to combinations

Candlestick charts are the most basic way to express market trends. A single candlestick includes the opening price, closing price, and the high and low points reached during the session: a closing price higher than the opening price is usually recorded as a bullish candlestick, and vice versa; the upper and lower shadows reflect the extreme positions the price has reached within the range.

The combination of multiple candlestick patterns can reveal the phased changes in the strength of buyers and sellers. For example, a series of long bullish candlesticks often indicates that buyers are in control, while a doji or a long upper shadow may suggest a divergence between buyers and sellers or a weakening of upward momentum. It is important to note that patterns are probabilistic references; the same pattern may have different meanings in different contexts and should not be taken as definitive signals.

III. Trends and Support/Resistance: Understanding Market Structure

Trend is a crucial concept in technical analysis, typically categorized into three states: upward, downward, and sideways. Trend-following is a common approach—focusing on opportunities after pullbacks in an upward trend and on risks after rebounds in a downward trend, provided the trend itself remains valid.

Support and resistance levels refer to reference points formed when prices repeatedly find support or are resisted in similar areas. Previous highs and lows, and important psychological levels are often closely watched by the market. When prices break through resistance or fall below support, the validity of the existing structure needs to be reassessed. Whether the breakout is accompanied by sustainability is also more worthy of observation than the single crossing itself.

IV. Introduction to Commonly Used Technical Indicators

Technical indicators are derivative instruments calculated based on prices. Common types include:

Moving averages are used to smooth price fluctuations and reflect trend direction. The arrangement of moving averages of different periods can provide a reference for the strength of the trend.

The Relative Strength Index (RSI) measures the relative strength of price increases and decreases over a period of time. When its value enters a relatively high or low range, it can be used as a temporary reference for market conditions, rather than an independent basis for buying or selling.

The Moving Average Convergence Divergence (MAD), combined with observations of trend and momentum, is often used to help determine whether a trend will continue or reverse.

There are many types of technical indicators, but traders don't need to pursue quantity. Choosing a few types that suit you and understanding their logic is often more helpful than piling up indicators.

V. Boundaries and Usage Recommendations for Technical Analysis

Technical analysis is based on historical patterns, but this does not guarantee future repetition. In volatile market conditions triggered by major macroeconomic events, patterns and indicators may become ineffective in the short term. A more prudent approach is to combine it with fundamental analysis and risk management, rather than relying on a single tool. Beginners can familiarize themselves with the behavior of various tools in historical data and simulated trading environments before gradually applying them to live trading.

6. ACE Markets: Providing tools to support technical analysis practices

For precious metals traders looking to learn and practice technical analysis, ACE Markets offers several tools to support their skills. The platform, based on MetaTrader 5, provides chart analysis, multi-timeframe views, and various technical indicators, allowing traders to observe candlestick patterns, draw support and resistance levels, and compare different timeframes. It also offers market analysis related to precious metals to aid in understanding market trends. It's important to note that these tools provide the foundation for analysis; the effectiveness of technical analysis ultimately depends on the trader's own understanding and judgment.

　　Risk Warning : Precious metal CFDs are leveraged products, and price fluctuations may result in significant losses. Please ensure you fully understand the associated risks and make prudent decisions based on your own circumstances.

From Analysis to Retrospective Analysis: The Tools and Experiences Precious Metals Traders Really Need

Fri, 18 Sep 2026 10:16:27 +0800

For traders of precious metals such as gold and silver, the platform's tools and user experience often determine the smoothness of the trading process. From understanding market trends and forming judgments to placing orders, executing trades, and reviewing and improving, the efficiency and stability of each step can be amplified or hampered by the quality of the tools. This article starts with "How Tools Empower Trading" and outlines the experience that precious metals traders truly need in the analysis, execution, and review stages.

I. The value of tools: supporting the entire process, not just piling on features.

Trading is not an isolated act of placing an order, but a continuous process: analyzing market conditions, forming a judgment, executing the decision, and reviewing and improving. A good tool isn't one with as many features as possible, but one that allows traders to focus their energy on judgment rather than being consumed by operational details. The ultimate measure of a tool is its ability to support traders in doing the right thing at the right time.

II. Analysis Phase: Making Information More Readable and Timely

Precious metal prices are influenced by multiple factors, including macroeconomics, supply and demand, and sentiment. Traders need to quickly access and understand information. Charts and multi-timeframe views help observe price structures, while technical indicators provide supplementary references. Market analysis content and timelines of important events help traders understand the background of market movements. The key to a good analytical experience lies in the timeliness, clarity, and accessibility of information—traders need to be able to "understand and find" it, rather than being overwhelmed by information overload.

III. Implementation Phase: Quickly and accurately putting judgments into practice.

Once a judgment is made, the tool's role is to transform that idea into an order. The proper use of features such as preset stop-loss and take-profit orders, and multiple order methods, allows risk rules to be fixed before placing an order. The access method in different scenarios also affects the ease of execution: a fully functional desktop client is used when in-depth analysis is needed, while a mobile client is used when real-time monitoring and adjustments are required. Consistent data across both platforms and smooth switching are essential for a complete experience. The core of the execution phase is operational efficiency and stability.

IV. Review and Service: The Other Half of the Experience

The trading experience extends beyond the moment an order is placed. The clarity of trading history and account records determines the efficiency of post-trade analysis; the smoothness of deposit and withdrawal processes and the timely resolution of questions impact long-term user experience. A complete trading tool should cover the entire process of "entry—trading—exit—improvement," not just the few minutes spent trading.

V. A positive experience: Reduce friction and focus on judgment

If we were to summarize all the functions in one sentence, a good trading tool experience is "minimal disruption, rapid response, and reliability": a clear interface and workflow, reducing unnecessary steps; timely updates to market data and account information, minimizing waiting time; and consistent data across multiple devices, reducing repetitive operations. Traders should spend their time on judgment and discipline, not on execution and waiting.

VI. ACE Markets: Tools to support the trading process

For precious metals traders looking to improve trading efficiency, ACE Markets offers tools covering multiple stages of the trading process: the platform is based on MetaTrader 5 and supports desktop, web, and mobile access, allowing traders to choose the appropriate method based on their needs; it provides chart analysis and various order functions to support analysis, decision-making, and the implementation of risk rules; and it also offers precious metals-related market analysis content and account information display to assist in reviewing past trades and managing accounts. It's important to note that these tools and the user experience provide support; the final decision still depends on the trader's own judgment.

Conclusion

The value of a tool ultimately lies in its ability to enable traders to focus more on judgment and discipline. The platform provides support, but the decision-making still depends on the trader themselves.

Precious Metals Trading for Beginners: From Understanding the Products to Building Your Own Trading Process

Thu, 17 Sep 2026 10:19:52 +0800

For investors new to precious metals trading, the allure of gold and silver prices often stems from price volatility. However, what truly determines a long-term experience is the level of understanding regarding the trading instruments, processes, and risks. This article, using knowledge dissemination and investor education as its framework, outlines an introductory path from "understanding the instruments" to "establishing processes," helping beginners avoid common pitfalls.

First, understand what you are trading.

"London Gold" and "London Silver," commonly found in precious metals trading, are essentially contracts for difference (CFDs) priced around the price fluctuations of gold and silver, respectively. These transactions do not involve physical delivery; profits and losses arise from the price difference between opening and closing a position. These types of transactions support two-way participation, with corresponding trading strategies for both price increases and decreases.

In the initial stages, it's important to understand a few fundamental concepts: a "lot" is the trading unit of a contract; a transaction is measured in "lots" or "multiples of lots"; leverage allows you to use a small amount of margin to control a larger notional position, which also means that profits and losses are magnified. Being able to read quotes and understand the meaning of positions and margin before investing real money is a more prudent starting point.

II. Familiarize yourself with the operating procedures using a simulation environment.

Before using a live account, most platforms offer a demo environment to familiarize users with operations such as placing orders, holding positions, adjusting stop-loss and take-profit levels, and checking account status. This process does not involve real funds. For beginners, the value of the demo stage lies in familiarizing themselves with the process and eliminating any unfamiliarity with the operational aspects.

It's important to note that simulated trading environments differ from live trading: the psychological pressure, emotional fluctuations, and execution deviations associated with real money cannot be fully replicated in simulations. Therefore, simulations are better suited for familiarizing oneself with the rules and should not be the primary basis for evaluating the effectiveness of a strategy.

III. Start with small-capital real-money trading and strict risk control.

When transitioning from demo to live trading, it's recommended to start with small capital and establish risk management rules simultaneously: clearly define stop-loss levels before opening a position, control the risk of each trade within an acceptable range, and avoid heavy leverage from the outset. The initial goal of live trading is not to pursue profits, but to verify whether your process works in a real-world environment.

IV. Several common misconceptions among beginners

Trading without a plan. Orders are placed based on gut feeling, with no clear direction, stop-loss, or target, leaving one vulnerable to even slight market fluctuations.

Overleveraging and adding to positions while already in a losing position. Excessive leverage amplifies emotional fluctuations, while adding to positions while already in a losing position is more likely to cause risk to spiral out of control.

Chasing highs and selling lows, and frequent trading. Following short-term sentiment in and out of the market repeatedly leads to accumulated costs and a decline in the quality of judgment.

Be wary of exaggerated claims. Be cautious of advertisements that exaggerate returns and downplay risks; there is no way to completely avoid losses in investing.

Neglecting continuous learning. Market conditions are changing. Treating trading as a process that requires continuous learning and review is closer to long-term participation than looking for "shortcuts."

V. Establish your own learning and review process

A more practical approach is to record the entry reason, stop-loss target, and actual result for each trade, conduct regular reviews, and identify recurring mistakes. At the same time, continuously improve your understanding of the instrument's mechanism, market environment, and risk control, treating trading as a process that can be gradually improved, rather than a one-off attempt.

6. ACE Markets: Providing tool support for beginners

For precious metals traders in the learning phase, ACE Markets offers some tool-level support. The platform provides trading instruments for precious metals such as gold and silver, along with related market analysis to help investors understand the driving factors behind market movements. The trading terminal is based on MetaTrader 5, supporting chart analysis, various order functions, and multi-terminal access, allowing traders to gradually get started at their own pace. It should be noted that the platform tools provide the foundation for operation and learning; investment decisions and risk management still require the trader's own management.

Bessant Hearing Insights – A Look Ahead to the Fed's September Decision Under Fiscal Constraints

Wed, 16 Sep 2026 16:14:03 +0800

With the September Federal Reserve interest rate meeting approaching, and August CPI inflation data exceeding expectations, the market's probability of an interest rate hike has risen rapidly. However, the political demands of the White House, the fiscal pressure on US debt, and the risk of a US-Japan exchange rate linkage together constitute a complex decision-making environment for Fed Chairman Warsh. ACE Markets, after integrating information from congressional hearings, inflation data, fiscal debt structure, and cross-asset correlation signals, believes that the core contradiction of this FOMC meeting goes far beyond "whether to raise interest rates by 25 basis points," but rather the difficult balancing act between the Fed's policy credibility, the political constraints of the election cycle, and the fiscal risks of US debt. The decision will redefine the pricing benchmarks for US Treasury bonds, the US dollar, and global risk assets.

The significant gap between fiscal policy reality and market expectations

U.S. Treasury Secretary Bessenter testified before the House Financial Services Committee, facing questions on U.S. Treasury repurchase agreements, U.S.-Japan currency intervention, inflation, and AI regulation. ACE Markets noted that this hearing highlighted multiple contradictions at the U.S. macroeconomic level, with the market often focusing only on public statements and overlooking the underlying constraints. Regarding rising U.S. Treasury yields, Bessenter attributed it to global factors, acknowledging that the deficit was a significant contributing factor. He argued that while expanding Treasury repurchase agreements did not reverse the rise in yields, it prevented further market deterioration. However, ACE Markets believes that repurchase agreements only marginally improve liquidity and are insufficient to offset the upward pressure on long-term interest rates from fiscal expansion, rising oil prices, and competition for AI capital.

Regarding the joint US-Japan intervention in the yen, Bessant disclosed that the US invested less than $1 billion and profited, with the vast majority of the intervention funds coming from Japan ($96.4 billion). The US's participation in the coordinated intervention aimed to benefit its own exports while reducing the risk of Japan selling off US Treasury bonds. The policy pronouncements were primarily intended to deter short sellers; the medium- to long-term trend of the yen still depends on the pace of interest rate hikes by the Bank of Japan. Facing inflation inquiries, Bessant attributed the problem to the previous administration, citing data on people's livelihoods to support the current economic performance. ACE Markets warns that positive short-term data cannot eliminate the inflationary risks posed by oil prices and the fiscal deficit; if Trump's proposed $5,000 subsidy for all citizens is implemented, it will further increase fiscal and interest rate risks. At the hearing, the Treasury Department also explicitly rejected the AI lab's liability exemption; changes in AI regulation will indirectly affect capital flows and the competitive landscape for US Treasury bonds.

Inflation exceeded expectations, and hawkish pressure within the Federal Reserve continues to mount.

After the release of the August CPI data, both overall inflation and core inflation exceeded market expectations, with the rebound in energy prices being the main driver. The interest rate futures market priced in a September rate hike probability of over 85%, and some trades even began pricing in the possibility of multiple rate hikes by the end of the year.

ACE Markets analysis suggests that many market analysts tend to simply view interest rate hikes as a passive response to inflation data, underestimating the weight of the Federal Reserve's policy credibility. At the July FOMC meeting, three members opposed maintaining interest rates, publicly revealing internal policy disagreements. If inflation rebounds significantly in August and the Fed chooses to remain on hold, it will severely damage its credibility in combating inflation, leading to a consensus in the market that it is "tough in words but conservative in action," making further tightening of monetary policy more costly.

Of course, this doesn't mean that raising interest rates is a costless choice. Raising interest rates will further increase financing costs, and the interest burden on American households' mortgages, corporate loans, and the federal government's own debt will increase accordingly. This hidden cost is often overlooked by superficial interpretations that only focus on inflation figures.

The White House election cycle brings undeniable political constraints.

With less than two months until the US midterm elections, high inflation and the high cost of living have become major concerns for voters, and the White House has publicly expressed its desire for a low-interest-rate environment. ACE Markets observes a delicate situation: outwardly, the Federal Reserve expresses respect for its independence, but directly conveys its opposition to interest rate hikes. Warsh's communication with the White House is more frequent than before, which can mitigate direct conflict, but cannot eliminate objective political constraints. For the Fed chairman, yielding to the administration's demands would damage the Fed's long-term independence; however, a continued hardline approach to interest rate hikes would exacerbate tensions with the White House during the election cycle. Therefore, we believe that Warsh's optimal approach is unlikely to be extreme; he needs to find a balance between long-term institutional credibility and short-term political realities.

US Treasury yields near 5%: the psychological threshold of inflation and fiscal policy dual pricing risk.

The 10-year US Treasury yield is approaching the key psychological level of 5%. ACE Markets warns that 5% is not just a psychological threshold; it is priced in by two structural forces: fiscal policy and inflation. The US federal deficit continues to rise, with total government debt exceeding $40 trillion and public debt reaching 100% of GDP. Bessant proposed a strategy of resolving the debt through high growth, hoping that AI investment, the return of manufacturing, and tax cuts would drive the economy. However, real constraints are strong. In recent years, actual GDP growth has been significantly lower than the 3% target. Population structure and rigid social security expenditures are suppressing potential growth, making it difficult to solve the persistent deficit problem solely through economic growth.

This creates a negative feedback loop: if the Federal Reserve continues to tighten, long-term yields will rise, government interest payments will expand, further amplifying the fiscal deficit, which in turn will push up inflation and Treasury yields. This is the real constraint that the bond market places on the Federal Reserve, and a key factor that Warsh must weigh when making decisions. Many market commentaries only discuss inflation, ignoring this fiscal constraint.

Benchmark Scenario and Asset Class Implications

Considering inflation figures, internal divisions within the Federal Reserve, political demands from the White House, and fiscal pressure on US Treasury bonds, we believe a 25 basis point rate hike in September remains the baseline scenario. However, a balanced strategy of "hawkish action, dovish guidance" is highly likely: using the rate hike to defend the credibility of anti-inflation measures and appease internal hawks; while maintaining cautious wording in the press conference, emphasizing policy data dependence, and downplaying expectations of further rate hikes, thus balancing political pressure and preventing a runaway rise in US Treasury yields.

When it comes to major asset classes, we draw three conclusions:

US Treasuries: Short-term yields are supported by rising interest rates, while long-term yields are pulled by both dovish guidance and fiscal pressure. The 5% mark for 10-year Treasury bonds will be repeatedly contested, and a one-way breakthrough is unlikely in the short term, but the high-level fluctuation center of interest rates has been systematically raised.

US Dollar Index: There is a high probability of a "buy the rumor, sell the fact" scenario, and it will remain strong before the interest rate hike is implemented; after the decision, the dollar is likely to face downward pressure due to dovish forward guidance and the continued strengthening of the yen.

Equity Market: Overall volatility risk is high before the interest rate hike takes effect. The technology and AI sectors are under dual pressure: on the one hand, high long-term interest rates are suppressing valuations, and on the other hand, the strengthening yen may lead to a concentrated unwinding of arbitrage positions. If the meeting releases a significantly dovish forward guidance, there will be a window for recovery after the negative factors have been fully priced in.

Leverage Mechanisms and Platform Functions in Precious Metals Trading : A Practical Guide for Gold and Silver Traders

Wed, 16 Sep 2026 09:52:43 +0800

Before engaging in trading precious metals such as gold and silver, establishing a solid knowledge base is essential for every trader. The precious metals market possesses both financial and industrial attributes, attracting a large number of investors ; however, market volatility, leverage, and the choice of trading tools can all significantly impact trading results. This article aims to popularize knowledge and educate investors, systematically outlining the core concepts of precious metals trading and introducing the functional support provided by the ACE Markets platform for gold and silver traders, helping everyone participate in the market more rationally while fully understanding the risks.

I. Leverage Mechanism: A Double-Edged Sword Amplifying Returns and Risks

In precious metals CFD trading , leverage is one of the most common mechanisms. Simply put, leverage allows traders to leverage a larger value contract with less margin . For example, with a leverage ratio of 1:100, a trader only needs to deposit $1,000 in margin to participate in a trade worth $100,000.

Leverage can significantly improve capital efficiency, but it also amplifies the potential for losses—if the market moves against expectations, losses could even exceed the initial margin. Therefore, understanding how leverage works is the first step in risk management for precious metals traders.

Furthermore, different commodities exhibit varying volatility: gold is generally considered a relatively stable safe-haven asset, while silver, due to its industrial applications, tends to experience more volatile price fluctuations. Traders should choose an appropriate leverage ratio based on their risk tolerance and always prioritize risk management.

II. Spreads and Transaction Costs: Hidden Factors That Cannot Be Ignored

The spread (the difference between the bid and ask prices) is one of the main costs in precious metals trading, and its size is affected by factors such as market liquidity, trading hours, and the characteristics of the instrument. Generally speaking, liquidity is higher and spreads are relatively narrower during the main trading hours that overlap between the London and New York markets ; however, spreads may widen significantly when the market is closed or during major events.

Gold, as the most traded precious metal globally, typically enjoys good liquidity ; however, spreads for silver and other platinum group metals can vary depending on market depth. Traders should consider spread costs when developing strategies—especially for short-term or high-frequency trading, where accumulated spread costs can significantly impact overall returns.

　　III . Technical Analysis and Fundamental Analysis: A Combination of Two Perspectives

Precious metals traders typically use two analytical methods:

Fundamental analysis focuses on macroeconomic factors that influence the supply, demand, and value of precious metals, including central bank monetary policy, inflation data, geopolitical events, and the US dollar exchange rate. For example, when the market anticipates a Federal Reserve rate cut, a weaker dollar and lower real interest rates often support gold prices.

Technical analysis, on the other hand, studies historical price trends, trading volume, and technical indicators to identify potential buying and selling opportunities. Common tools include support and resistance levels, moving averages, and the Relative Strength Index ( RSI ) .

Combining the two often leads to a more comprehensive judgment: fundamental analysis helps to grasp the market direction, while technical analysis assists in determining specific entry and exit points.

　　IV . ACE Markets Platform Functions: Providing tool support for precious metals traders

After mastering the above basic knowledge, choosing a suitable trading platform is a crucial step in turning knowledge into practice. ACE Markets, as a one-stop comprehensive financial trading platform, is committed to providing users with diversified products and full-featured trading services. For gold and silver traders, the following features are worth noting:

1. Diversified precious metal trading products

The platform offers a variety of precious metals trading options, including gold and silver. Traders can manage different instruments under the same account, facilitating cross-instrument analysis and asset allocation. Whether focusing on intraday trading of spot gold or monitoring changes in industrial demand for silver, traders can choose the appropriate instrument based on their own strategic preferences.

2. Copy Trading Function: Observe and learn from others' strategies

ACE Markets' copy trading feature allows traders to automatically track the trading behavior of other traders, providing a window for users who want to understand the trading methods of others or diversify their strategies. By observing how different traders operate during fluctuations in the gold and silver markets, traders can learn diverse risk management methods and position strategies. It is important to clarify that copy trading does not mean there is no risk—past performance is not indicative of future results, and users should make independent decisions based on their own judgment.

3. Smooth transaction execution experience

During periods of rapid price fluctuations in precious metals, trade execution efficiency directly impacts the effectiveness of trading strategies. ACE Markets is committed to providing a smooth trade execution experience, helping traders complete position opening or closing operations at preset prices and reducing the uncertainty caused by system latency.

The precious metals market presents both opportunities and risks. Only by mastering fundamental knowledge of leverage, cost, timeframes, and analysis, making good use of appropriate platform tools, and always maintaining risk awareness can traders navigate this volatile market more steadily and go further.

Why don't gold and silver move in tandem? The gold-silver ratio reveals the relative strength of precious metals

Tue, 15 Sep 2026 10:09:31 +0800

Gold and silver are often referred to together as precious metals, but their pricing logic differs. For traders, understanding these differences helps in assessing their relative strength under different macroeconomic environments, rather than simply treating them as the same asset class. This article starts from macroeconomic logic, outlining the pricing differences between gold and silver, and introduces the "gold-silver ratio" as a tool for observation.

I. Although both are precious metals, their pricing logic is different.

Gold's monetary attributes are more prominent, and its pricing has long been anchored to real interest rates, the credit of the US dollar, and central bank reserve behavior—when real interest rates decline, concerns about the credit of the US dollar intensify, or central banks continue to purchase gold, gold often receives support.

Silver possesses both monetary and industrial attributes. Industrial demand, particularly in sectors like photovoltaics, new energy vehicles, and electronics, typically accounts for more than half of total silver demand. This means that silver prices are influenced not only by the macroeconomic financial environment but also by industry cycles and the dynamics of physical supply and demand. The relative weights of these two attributes vary at different stages, which is why silver's volatility is often greater than that of gold.

II. Gold-Silver Ratio: A Measuring Tool for the Relationship Between the Two

The gold-silver ratio, which refers to the number of ounces of silver that can be exchanged for one ounce of gold, is a commonly used reference for measuring the relative strength of the two. Historically, the gold-silver ratio has a relatively stable central value, fluctuating between 60 and 70 for most periods. However, it can deviate significantly during periods of drastic changes in macroeconomics and supply and demand. In early 2026, the gold-silver ratio once contracted to about 50 times, reaching a multi-year low, before rising again as silver prices retreated.

The changes in the gold-silver ratio often correspond to a shift in macroeconomic trends: when industrial demand strengthens and physical consumption expands, silver is relatively strong, and the gold-silver ratio tends to decline; when safe-haven demand rises and real interest rates increase, silver's elasticity is often affected first, and the gold-silver ratio tends to widen. It should be noted that the gold-silver ratio is a reference for observing the relationship between the two and is not an independent trading signal in itself.

III. The relative strength of gold and silver under different macroeconomic environments

During periods of rising expectations for interest rate cuts and a recovery in market risk appetite, silver's financial and industrial attributes may provide dual support, and its price elasticity is often greater than that of gold. During periods dominated by risk aversion and credit concerns, gold's safe-haven attributes are more direct, and its performance is often relatively stable.

Physical supply and demand are also variables that cannot be ignored. After years of supply falling short of demand, the physical silver market is seeing differing expectations in 2026, with some anticipating a narrowing of the supply-demand gap or even a shift to equilibrium. Different institutions have varying judgments on the gold-silver ratio's trajectory. For traders, rather than following a single conclusion, it is better to simultaneously track changes in both macroeconomic expectations and physical supply and demand.

IV. Implications for Traders

One approach is to use the gold-silver ratio as an auxiliary perspective for observing market style: when the ratio is at the edge of its historical range, pay attention to whether the logic driving its changes has changed.

Secondly, choose the right product based on your own strategy: traders who seek price elasticity can focus on silver, while those who prefer a more stable portfolio can focus on gold.

Third, we should avoid treating the gold-silver ratio as a rule that will inevitably revert to its previous state. Its fluctuations are always based on the macroeconomic background and physical supply and demand, and need to be judged in conjunction with the specific environment.

V. ACE Markets: Providing tools to support multi-product observation

For precious metals traders who wish to monitor both gold and silver, ACE Markets offers several tools to support their trading. The platform provides trading instruments for gold, silver, and other precious metals, allowing traders to participate separately within the same account. The trading terminal is based on MetaTrader 5, supporting multi-instrument chart comparisons and real-time quotes, facilitating observation of the gold-silver ratio and their relative strength. It's important to note that these tools provide the foundation for observation and execution; trading decisions still require consideration of macroeconomic and supply-demand analysis.

The difference in macroeconomic logic between gold and silver: the relative strength of precious metals as seen from the gold-silver ratio

Mon, 14 Sep 2026 09:53:30 +0800

I. Although both are precious metals, their pricing logic is different.

Gold's monetary attributes are more prominent, and its pricing has long been anchored to real interest rates, the credit of the US dollar, and central bank reserve behavior—gold often receives support when real interest rates decline, concerns about the credit of the US dollar intensify, or central banks continue to purchase gold.

Silver possesses both monetary and industrial attributes . Industrial demand, particularly in sectors like photovoltaics, new energy vehicles, and electronics, typically accounts for more than half of total silver demand. This means that silver prices are influenced not only by the macroeconomic financial environment but also by industry cycles and the dynamics of physical supply and demand. The relative weights of these two attributes vary at different stages, which is why silver's volatility is often greater than that of gold.

II. Gold-Silver Ratio: A Measuring Tool for the Relationship Between the Two

The gold-silver ratio, which refers to the number of ounces of silver that can be exchanged for one ounce of gold, is a commonly used reference for measuring the relative strength of the two. Historically, the gold-silver ratio has a relatively stable central value, fluctuating between 60 and 70 for most periods. However, it can deviate significantly during periods of drastic changes in macroeconomics and supply and demand. In early 2026, the gold-silver ratio once contracted to about 50 times , reaching a multi-year low, before rising again as silver prices retreated.

III. The relative strength of gold and silver under different macroeconomic environments

Physical supply and demand are also variables that cannot be ignored. After years of supply falling short of demand, the physical silver market is expected to see a narrowing of the supply-demand gap or even a shift to equilibrium in 2026. Different institutions have differing opinions on the future trend of the gold-silver ratio. For traders, rather than following a single conclusion, it is better to track changes in both macroeconomic expectations and physical supply and demand.

IV. Implications for Traders

Secondly, choose the right product based on your own strategy: traders who seek price elasticity can focus on silver, while those who prefer a more stable portfolio can focus on gold.

V. ACE Markets: Providing tools to support multi-product observation

Transaction Costs and Execution Efficiency: How They Affect the Break-Even Point of a Gold Transaction

Fri, 11 Sep 2026 09:57:48 +0800

In precious metals CFD trading, traders often prioritize determining the market direction before considering other factors. However, beyond directional judgment, transaction costs and order execution quality also shape actual profits and losses—they determine "how far the market moves to cover costs" and whether risks can be controlled as planned under extreme market conditions. This article examines how costs and execution affect trading outcomes from a break-even perspective and provides some actionable approaches.

First, convert costs into "how far the market needs to go".

The true cost of a trade typically consists of the spread, commission (depending on the account type), and overnight interest (if the position is held overnight). Taking London gold as an example, if an account has a spread of $0.5 per ounce, and 1 standard lot corresponds to 100 ounces, then opening a single position incurs a spread cost of approximately $50—meaning that the gold price needs to move more than this amount in a favorable direction for the trade to reach the break-even point.

For short-term traders, this cost appears repeatedly in every trade, with a significant cumulative effect; for medium- to long-term traders, the proportion of cost per spread decreases, while overnight costs during the holding period are more worthy of being included in the calculation. Converting costs into "how far the market needs to go" allows traders to have a more intuitive grasp of the actual threshold for each trade.

II. How to raise the "break-even" threshold by increasing costs

Another effect of costs is that they raise the bar for trading results. Imagine each trade incurs a fixed cost: when average profit and average loss levels are close, higher costs mean a higher proportion of correct trades are needed for the account to break even. This means that in a higher-cost environment, traders need stricter entry criteria and a more reasonable risk-reward ratio, rather than relying on "making more trades and hoping for luck."

This is especially evident in high-frequency trading—the more trades you make, the more often the unit cost is amplified. A difference of a few tenths of a dollar in spreads has limited impact on low-frequency traders, but for high-frequency traders, it can be a watershed between long-term profits and losses. Therefore, the key to comparing costs is not the magnitude of a single number, but how well it matches one's own trading frequency.

III. The Real-World Impact of Execution Quality in Extreme Market Conditions

Execution efficiency is not only reflected in "speed," but also in whether the exit can be completed as planned under extreme market conditions.

One type is stop-loss orders placed during price gaps. After a major event or market closure followed by reopening, the price may jump directly above the preset stop-loss level, resulting in actual losses exceeding the set value. In this case, the quality of execution is reflected in the "degree of stop-loss slippage," rather than the speed of execution—for short- to medium-term traders who rely on stop-loss orders to control risk, this difference directly relates to whether the risk exposure is manageable.

Another category is order performance in fast-moving markets. When market conditions are volatile, there may be a significant deviation between the actual execution price and the expected price of an order. Traders need to assess this possibility in advance and leave a buffer for key operations to avoid being caught off guard in the moment.

IV. Using cost to deduce the transaction plan

A more practical approach is to conduct a "cost calculation" before opening a position: first, clarify the spread, commission, and potential overnight fees for the trade, and estimate how much market movement is needed to cover the costs; then, set stop-loss and take-profit targets accordingly, ensuring that the expected profit/loss ratio remains valid after deducting costs. A plan designed in this way is more realistic than simply looking at price movements. At the same time, regularly reviewing transaction details and observing whether the deviation between the transaction price and the plan is stable and controllable helps to incorporate the impact of execution into long-term evaluation.

V. ACE Markets: Providing tools to support cost estimation and execution

For precious metals traders seeking more precise cost management, ACE Markets offers support in terms of tools. The platform provides trading instruments for gold, silver, and other precious metals, with various account types offering different spreads and commission structures, allowing traders to choose based on their trading frequency. The trading terminal is based on MetaTrader 5, supporting real-time quotes and order placement features such as stop-loss and take-profit orders, facilitating planned execution and adjustments. It's important to note that the accounts and tools provide a basic operational foundation; actual costs are subject to the platform's latest disclosures, and traders should assess their own circumstances.

What should gold and silver traders do before and after the release of macroeconomic data?

Thu, 10 Sep 2026 10:21:30 +0800

Gold and silver are typical macro-priced assets—marginal changes in variables such as interest rates, inflation, and the US dollar often drive significant price fluctuations in a short period. For precious metals traders, understanding how macroeconomic events affect prices is more meaningful than simply guessing whether data is good or bad. This article starts from macroeconomic logic, outlining the mechanisms by which macroeconomic events affect precious metal prices, and the appropriate response strategies for traders.

First, the market trades on "expectation discrepancies," not the data itself.

When macroeconomic data is released, the market often reacts not to the quality of the data itself, but to the gap between it and market expectations. When the data is significantly better than expected, it may reinforce expectations of tighter monetary policy, putting pressure on precious metals; conversely, when the data is worse than expected, it may support stronger gold prices. Furthermore, the market usually partially prices in before the data release—meaning that the direction of price fluctuations after the release depends on the size and direction of the "expectation gap," rather than the quality of the data itself. Understanding this mechanism helps traders avoid the misjudgment of "looking only at the data and ignoring expectations." For traders, the focus should shift from "what will the data itself be like" to "whether the extent of the surprise has already been priced in."

II. Types of Macroeconomic Events Worth Noting

There are several main types of macroeconomic events that have a direct impact on precious metals:

Inflation data, such as the Consumer Price Index and core inflation indicators, directly affect the market's judgment on the path of real interest rates.

Employment data, such as non-farm payrolls, are often regarded as an important reference for the pace of monetary policy.

Central bank decisions, especially the Federal Reserve's interest rate meetings and policy statements, as well as its dot plot, directly signal the path of interest rates and their impact on precious metals often lasts for several days.

In addition, news related to fiscal and debt matters, geopolitical risks, and other events can also affect precious metal prices through risk aversion or the credibility of the US dollar. These types of events have different impact paths, and traders can choose to focus on the types that best suit their strategies.

III. The pace of response to macroeconomic events

When facing macroeconomic events, traders can plan their strategies according to a "before - during - after" rhythm:

Beforehand, understand market consensus expectations and clarify your own judgment and response plan, rather than making decisions on the spot after the data is released. Also, pay attention to changes in expected data values—market expectations themselves may adjust as the release date approaches.

During the process, market fluctuations are often drastic the moment data is released, spreads may widen and pending orders may become invalid. It is necessary to assess the execution risks in advance and avoid chasing orders at the peak of sentiment.

In the aftermath, market movements often exhibit two phases: "initial reaction and subsequent correction." Blindly entering the market based on emotions can easily lead to being caught off guard; it is often more appropriate to wait until the volatility stabilizes before making a final assessment.

Regularly reviewing the actual relationship between each data point and price can also help to gradually accumulate an understanding of the impact path of macroeconomic events.

IV. ACE Markets: Supporting Macro Trading Pace

For precious metals traders looking to plan their trades around macroeconomic events, ACE Markets offers several tools to support their strategies. The platform provides market analysis related to precious metals, helping traders track the market dynamics before and after important events. The trading terminal is based on MetaTrader 5, supporting various order functions and multi-terminal access, facilitating execution and adjustments according to established plans. It's important to note that the analysis and tools provide a framework for reference; trading decisions should still be based on individual strategies and risk management.

The rapid appreciation of the yen has triggered the risk of unwinding carry trades, posing a chain reaction of challenges to the foreign exchange and equity markets

Wed, 09 Sep 2026 17:03:15 +0800

The Japanese yen has recently experienced a rapid recovery, coupled with rising expectations of a Bank of Japan interest rate hike and hawkish comments from US Treasury Secretary Bessenter, bringing the long-dormant risk of yen carry trades back into the market spotlight. ACE Markets, through tracking cross-asset correlation signals, institutional positioning structures, and the long-short game, believes that this round of yen appreciation is not merely a simple exchange rate fluctuation, but is highly likely to trigger a cross-market chain reaction, spreading from foreign exchange to the US technology sector. The Bank of Japan's policy implementation and the speed of yen appreciation will be two core indicators determining the magnitude of the market movement.

The yen's strong rebound has reignited risk warnings for historical carry trades.

ACE Markets data shows that the yen has appreciated nearly 4% against the dollar since September, reaching a high of 152.89 intraday, its highest level since February this year, before falling sharply from the key intervention level of 160. The classic yen carry trade logic—borrowing yen at near-zero cost and investing in high-yield assets such as US stocks and bonds—has long been widely used on Wall Street due to interest rate differentials. Currently, there is still a 2.57 percentage point yield differential between the US and Japanese 1-year government bonds, meaning the underlying interest rate differential for carry trades still exists. However, the exchange rate reversal is rewriting the risk-reward ratio. If the yen appreciates rapidly and significantly, carry traders' yen liabilities will passively increase, forcing investors to sell dollar-denominated assets and buy back yen to repay loans, thus creating cross-market selling pressure.

Looking back, a similar scenario played out in the summer of 2024: the yen appreciated by 13% in two months, triggering a wave of profit-taking and a sharp sell-off in the US tech sector. ACE Markets warns that the AI and tech sectors are currently overvalued and have crowded trading positions; if a rapid sell-off were to repeat itself, these sectors would face even greater downside potential. However, a repeat of the 2024 volatility is not guaranteed. Many trading institutions have already priced in the possibility of a stronger yen; only an unexpected and sudden surge in the yen would trigger a large-scale systemic sell-off, after which buying opportunities would still exist.

This change is also reflected in the performance of the US dollar index, with the ICE US dollar index also under pressure and declining. However, the cumulative appreciation of the yen in this round is still less than that in 2024. Therefore, we are not focusing on the absolute magnitude of the appreciation, but rather on the speed of the appreciation and whether it exceeds the market consensus.

Bessen's tough rhetoric has stirred market expectations, and the policy signal carries substantial weight.

US Treasury Secretary Bessenter made a highly impactful statement, openly declaring that he possesses asymmetric information and that he is "the manipulator" on yen-related policies, directly warning yen bears. ACE Markets believes this is not merely rhetoric. Based on institutional feedback, the market generally interprets this statement as more than just empty rhetoric; it's a clear signal to the trading market that the US and Japan are coordinating their exchange rate strategy, and that short sellers betting on a continued weakening yen face extremely high policy risks. Catalyzed by these remarks, hedge funds have begun adjusting their positions, with a large number of options trades betting on the USD/JPY exchange rate falling below 150 by the end of the year, and some long-term options even targeting 140. Trading funds have begun positioning for a long yen rally.

The battle between bulls and bears intensifies: Japanese retail investors are shorting against the trend, potentially fueling the yen's rise.

The current internal game in the foreign exchange market is highly fragmented. ACE Markets' position data shows that while overseas funds are gradually unwinding their yen carry trades and hedge funds are betting on a stronger yen, Japanese retail investors are still betting against the trend and expecting the yen to weaken, resulting in a high level of net short positions in the yen.

Japanese retail investors traditionally have a contrarian trading habit: buying more dollars as the yen appreciates. However, with the USD/JPY pair breaking below the key support level of 155, retail trading behavior has become more cautious. Our analysis suggests that if the yen continues its upward trend, many retail investors' long dollar positions will trigger stop-loss orders, forcing them to sell dollars and buy yen. This contrarian short selling by retail investors could then become a passive force pushing the yen higher. The options market is also sending strong downward signals, with the trading volume of USD/JPY put options expiring at the end of the year significantly exceeding that of call options, indicating a strong consensus in the market that the USD/JPY pair will test the 150-152 range.

Market opinions are clearly divided, with the two central banks' struggle setting the ceiling for the yen's upward movement.

Despite the yen's sharp rise, Wall Street institutions are significantly divided on the sustainability of this rally. ACE Markets, summarizing the logic of various institutions, concludes that the yen's future potential essentially depends on the policy game between the two major central banks.

The extent to which the Bank of Japan (BOJ) implements interest rate hikes: If the BOJ's tightening pace does not exceed market expectations, the yen's further upside potential will be limited. Japanese authorities also do not want the yen to appreciate excessively; when the exchange rate approaches 150, it may face policy-level resistance. However, as long as the BOJ does not close the door on further interest rate hikes, the yen will continue to receive underlying support. The repatriation of overseas funds by Japanese export companies could also be an additional catalyst for the yen's appreciation.

The Fed's policy direction creates a check and balance: if the Fed's September meeting releases hawkish signals or even raises interest rates, the interest rate differential between the US dollar and the Japanese yen will widen again, which will limit the downside potential of the dollar against the yen.

Cross-asset implications: Exchange rate fluctuations can have cascading effects, and investors need to be wary of chain reactions.

From a macro asset perspective, ACE Markets reminds traders not to view the USD/JPY exchange rate in isolation. The risk of unwinding carry trades due to a stronger yen will propagate along the chain of foreign exchange → US Treasuries → US tech stocks. Even if systemic risk doesn't immediately erupt, the crowded AI tech sector will be more susceptible to capital outflows. Traders should not simply bet on a continued surge in the yen; they need to continuously monitor three key signals: the Bank of Japan's meeting results, the Federal Reserve's September interest rate decision, and the stop-loss status of retail positions.