Gold prices are skyrocketing. Is it too late to get in now? @msx_cn
I heard the gold price has soared to $4,130 per ounce, a record high. I wonder how many people have sold out. I sold all the gold I bought a few years ago when it was over $500 😑.
But if you feel you've missed out on this rally, don't worry. There's a super exciting way to play on the MSX platform—double the long position in the gold ETF (UGL).
Entry:
We still have a chance to catch up with the upward trend using the "accelerator"!
⚡ What is UGL? Let me explain it in plain words.
"Gold Gain Amplifier": The UGL fund aims to track approximately twice the daily rise and fall of the gold price. Simply put, if the gold price rises 1% today, UGL will ideally rise by about 2%. Conversely, if gold falls 1%, UGL could also fall by about 2%. Its price has more than doubled in the past year, increasing by over 110%.
How did it achieve this? UGL doesn't directly purchase gold bars, but rather achieves its doubling goal through financial instruments like swap agreements and futures contracts.
In general, if you're bullish on gold's continued short-term gains and want a more efficient tool than buying gold directly, you can check out the MSX Gold Index Double Long ETF - MSX (UGL.M).
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