Gold Traders Face Shift in Overnight Financing Rates

Gold traders have seen changes in overnight financing rates as CFD brokers continue to compete for market share. Born2trade recently introduced credits of up to $19.99 per XAU/USD lot and $2.99 per XAG/USD lot for eligible long positions, targeting clients seeking competitive advantages.

The move is part of a trend among CFD brokers extending gold trading into weekends and adding smaller contracts. LMAX Group, Scope Prime, CMC Markets, Match-Prime, Vantage, and VT Markets have launched similar products offering 24/7 access to gold markets.

Recent data from Capital.com shows that gold accounted for 42.4% of their total trading volume in the second quarter, with a total of $1.13 trillion traded. This is down from a high of 59% reported in January alone.