Silver vs Australian Dollar - XAG AUD Trading
Instrument - &XAGAUD
Type - PCI
Silver AUD Description
Personal composite instrument called «&XAGAUD» reflects the price dynamics of silver against the Australian dollar. The base portfolio of this instrument is composed of 1 ounce of silver, and the quoted portfolio – 1 Australian dollar. The asset percentage content of the instrument is estimated based on the asset prices on the PCI creation date.
The trading instrument &XAGAUD is used for the analysis and trade of silver quoted against one of the major commodity currencies- the Australian dollar. The Australian economy depends heavily on mining and export of precious metals, particularly silver. Australia’s silver ore deposits (14%) and mined silver output (9%) rank it among the top 5 countries in the world in silver mineral deposits and production.
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PCI Components and their volume
PCI main trading conditions
PCI active trading hours
How can PCI be applied in trading?
|&XAGAUD||№||Asset||Volume / 1 PCI||Percentage||Volume (USD) / 1 PCI||Unit of measurеment|
- The volume to calculate Swap and 1 pip value
- The size of 1 pip
- Margin in USD for the volume and leverage of 1:100
- 82.84 USD
Floating Spread |
|Swap (long/short) in pips on Vol||-0.977 / 0.095||-0.977 / 0.095||-0.977 / 0.095|
|>=500.00||5.00 – 4503.17||>=5.00|
|The value of 1 pip in USD for the Vol||0||0||0|
|Week day||Trading hours (CET)||Local trading hours|
|Monday||00:00 — 24:00||00:00 — 24:00|
|Tuesday||00:00 — 24:00||00:00 — 24:00|
|Wednesday||00:00 — 24:00||00:00 — 24:00|
|Thursday||00:00 — 24:00||00:00 — 24:00|
|Friday||00:00 — 22:00||00:00 — 22:00|
The personal composite trading instrument &XAGAUD is used for multi-year dynamics analysis of silver against the Australian dollar, as well as for comparative analysis with another popular instrument XAGUSD. For example, by building a percentage chart for two instruments &XAGAUD и XAGUSD ( Fig. 1) on the trading platform NetTradeX, it is evident that in the 3-year period silver declined against the AUD at a slower pace than its pace of decline against the USD.
Traders, whose main assets and investments are denominated in Australian dollars, will be comfortable trading this PCI.
To trade PCI instruments offered exclusively by IFC Markets, you need to open a free account and download the NetTradeX platform.