Dubai-based CFI Financial Group has launched Gold 24/7, a gold CFD that lets clients trade when regular gold markets are closed. The instrument trades under the symbol XAUUSD-24H.
Clients can open and close positions Monday through Sunday, from 00:05 to 23:58 server time. The product is separate from CFI's spot gold instrument (XAUUSD), with its own pricing, trading hours and product conditions. It is offered through selected CFI entities, and availability and conditions vary by jurisdiction and local regulatory requirements.
London's trading industry is coming home!
CFI did not disclose spreads, leverage or clarify the jurisdictions where the instrument is live.
Gold Joins CFI's Out-of-Hours Lineup
CFI already offers other CFDs outside regular sessions. Subject to jurisdiction, clients can trade EUR/USD (EURUSDw) and USD/JPY (USDJPYw) over weekends. The broker's digital asset CFDs, including Bitcoin vs. Gold (BTCXAU), run 24/7. With gold added, the extended-hours range spans currencies, digital assets and precious metals.
“We have been gradually extending access beyond conventional trading hours where it makes sense, and Gold 24/7 is part of that broader direction,” said CFI’s CEO Ziad Melhem. “It gives clients more flexibility around when they can access the market, while reflecting how trading is continuing to evolve.”
A Crowded Weekend Gold Field
CFI arrives after a run of similar launches this year. CMC Markets launched a weekend gold product for spread betting and CFD clients, giving access when the underlying spot and futures markets are closed. CMC introduced the product in April. In March, Scope Prime introduced DIGIXAU, a continuous gold CFD for institutional clients. Match-Prime followed in June with 24/7 CFDs on gold, silver, oil and US indices through its Cyprus-regulated entity.
Retail brokers have since piled in. Vantage Markets launched XAUUSD247, a one-ounce contract with leverage of up to 100 times that trades every day of the week. XM launched GOLD24-7, and VT Markets followed with its own round-the-clock gold CFD. STARTRADER has also launched 24/7 gold CFD trading.
Liquidity providers say the demand came from brokers first. "Broker demand for 24/7 access has been clear for some time," said Andreas Kapsos, CEO of Match-Prime Liquidity. At the retail end, XM Co-CEO Stavri Morti said "Markets don't stop generating news simply because it's the weekend."
How Weekend Pricing Works
Because spot and futures markets are shut on Saturdays and Sundays, weekend quotes come from a different source. Weekend CFD prices can depend on the broker or liquidity provider rather than an open underlying venue. Match-Prime has said liquidity conditions are typically thinner during weekend trading than during standard market hours.
That difference shows up in published pricing. VT Markets lists weekday spreads from 15 points and weekend spreads from 40 points, subject to market conditions. Products such as XM's GOLD24-7 and Vantage's XAUUSD247 are broker-priced CFDs for retail clients rather than exchange-traded instruments.
CFI's announcement describes XAUUSD-24H as having its own pricing and product conditions, separate from spot gold.
This article was written by Arnab Shome at www.financemagnates.com.
Source: Finance Magnates