Gold & Precious Metals: Owning, Trading and Managing Risk
Learn what moves gold and other precious metals, how to compare ways to own or trade them, and how to calculate costs, conversions and position sizes with clear risk limits.
Self-study course Self-study course: written lessons, videos and downloadable materials for independent learning. There is no supervision, assessment, individual feedback or tutoring. Self-check quizzes are evaluated automatically in your browser — we do not see your results.
All 10 lessons free
Before you start
- Basic percentages and the use of a calculator
- A general idea of what a share and an interest rate are
- No previous trading experience required
What you will be able to do
- Explain the main drivers of the gold price as tendencies, not fixed laws
- Compare physical gold, ETCs, futures, CFDs and mining shares by cost and counterparty risk
- Calculate the break-even price of a gold purchase after spreads, storage, fees and financing
- Convert a XAU/USD quote into euros per gram and judge a dealer premium
- Size a gold trade from a fixed euro risk using ATR-based stops
- Describe the German VAT and holding-period basics for physical gold in general terms
Lessons in this course
Why Gold Matters
Understand gold's history as money, the store-of-value idea, and what gold does not do for an owner.
What Moves the Gold Price
Learn the main drivers of the gold price and why they are tendencies, not fixed laws.
Ways to Own or Trade Gold
Compare physical gold, exchange-traded products, futures, CFDs and mining shares by cost, risk and purpose.
Costs That Eat Returns
Calculate how spreads, storage, product fees and financing costs reduce the return on gold.
Quoting and Units
Read gold quotes in troy ounces and XAU/USD and convert them into euro per gram.
Gold and Inflation
Separate what history shows about gold and inflation from common beliefs.
Silver and Other Precious Metals
Understand how silver, platinum and palladium differ from gold and how to read the gold/silver ratio.
Trading Gold Technically
Plan a gold trade using trend, price levels, ATR volatility, trading sessions and the news calendar.
Risk Management for Gold Trading
Size gold positions by euro risk and understand leverage, contract sizes and gaps.
Gold in a Long-Term Plan and German Tax Basics
See how gold can fit into a long-term plan and get a general orientation on VAT and tax for physical gold in Germany.
Silver: Owning, Trading and Managing Risk
Continue with "Silver: Owning, Trading and Managing Risk" to apply these skills to the more volatile sister metal: its industrial demand, the gold-to-silver ratio, futures and position sizing.
View course outline