Gold · Intermediate
Understanding the Gold Market
Who participates in the gold market, how price discovery works, and where liquidity comes from.
What you will learn
- The role of refiners, banks, exchanges, and central banks
- How spot pricing and futures pricing relate
- Why liquidity changes through the trading day
- How economic releases affect quoted spreads
Who this guide is for
Learners who know the basics and want the market-structure layer.
Chapter breakdown
- Market participants
- Price discovery and benchmarks
- Liquidity and trading sessions
- Physical settlement and delivery
- Common misconceptions
How to use it
Read the chapters in order and complete each one before moving on. The material is deliberately paced for comprehension rather than speed, and it pairs with the articles in our learn hub.