Explanation of the new XAU contract on Binance (Concise and Clear)
Binance has added the XAU/USDT gold trading contract to the futures section. Here are the main points you should know about it directly:
1. The contract is not actual gold It is not real ownership of gold in vaults, but a derivative contract (CFD) that follows the global gold price.
2. The price is directly related to the real gold price The price movement on Binance is the same as the global gold movement XAUUSD on TradingView. If gold rises globally, the contract rises, and if it falls, it falls.
3. Standard Perpetual Contract The word "Standard" under the symbol means that it is a standard perpetual contract like BTCUSDT and ETHUSDT and not a special or different contract.
4. Suitable for trading based on global gold analysis You can analyze gold in financial markets and then execute your trades on Binance with the same logic because the movement is the same.
5. Pricing is the price of an ounce of gold The displayed number (like 4300$) is approximately the global ounce price, not a specific number for Binance.
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