Please note that the dividends of the following products will be adjusted accordingly. Index dividends will be executed separately through a balance statement directly to your trading account, and the comment will be in the following format “Div & Product Name & Net Volume ”.
Please refer to the table below for more details:
The above data is for reference only, please refer to the MT4/MT5 software for specific data.
If you’d like more information, please don’t hesitate to contact [email protected].
Please note that the dividends of the following products will be adjusted accordingly. Index dividends will be executed separately through a balance statement directly to your trading account, and the comment will be in the following format “Div & Product Name & Net Volume ”.
Please refer to the table below for more details:
The above data is for reference only, please refer to the MT4/MT5 software for specific data.
If you’d like more information, please don’t hesitate to contact [email protected].
Here’s the twist: Not all that glitters are gold. You’re about to find out what exactly goes into the 2024 Olympic gold medal and why it’s worth examining the value of these precious metals.
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After a century, the 2024 Summer Olympics will see the games return to Paris.
All in for the win, the world’s top athletes dedicated years to their sport. Olympic champion Jess Fox is hoping to make it back-to-back gold this year and will be competing tirelessly to take home the ultimate symbol of glory—the Olympic gold medal.
The Paris Mint is manufacturing 5,084 medals. Of this number about 2,600 are for the Olympics and 2,400 for the Paralympics.
Each gold, silver, and bronze medal features an 18-gram hexagonal chunk of iron that was once part of the Eiffel Tower. The medals measure 85mm in diameter and 9.2mm in thickness.
Unlike any medals awarded since Athens 1896, LVMH’s Chaumet has taken up the challenge of combining these precious metals. They have brought the vision of modern Olympic medals to life, incorporating a small piece of Paris into each design.
Breaking down the composition of the gold medal
Silver gets the gold
You’d be forgiven thinking that the Olympics Paris 2024 gold medal is made of gold. The fact is that it isn’t made of gold at all. Only 6 grams are pure gold, used for plating.
95% of the Olympic gold medal is actually silver—505 grams, to be exact. The remaining 18 grams are iron.
The silver medal weighs 525 grams, with 507 grams of silver and 18 grams of iron. Based on the spot prices for silver and iron as of July 24, its value is around $486.
Based on VT Markets’ analysis, silver has been recognised as the top-performing commodity of 2024.Silver prices (Symbol: XAGUSD) have risen by 21% year-to-date in 2024, outperforming other metals like gold and copper, as well as the S&P 500 index.
The bronze medal weighs 455 grams, made up of 415.15 grams of copper, 21.85 grams of zinc, and 18 grams of iron. Its value is roughly $13.
Key stats behind the Paris 2024 medals
529g: the weight of the gold medal Gold plating: 6 grams Silver: 505 grams Eiffel Tower iron: 18 grams
525g: the weight of the silver medal Silver: 507 grams Eiffel Tower iron: 18 grams
455g: the weight of the bronze medal Copper: 415.15 grams Zinc: 21.85 grams Eiffel Tower iron: 18 grams
How much is the metal of an Olympic medal worth?
If these medals were made entirely of gold, they’d be worth around $41,161.50 each! That’s why the last time they handed out pure gold medals was way back in 1912.
While the monetary value of an Olympic medal is around $500, that doesn’t mean athletes don’t make money at all.
The payout for Olympic medalists varies by country— with Malaysia, Morocco, or Serbia receiving an upward of $200,000 from their country’s government or national Olympic committee for bringing home gold. The true value lies in its priceless pride of victory.
Medals with some history behind them have been sold for an excess of 1 million dollars on auction. The value of past gold medals has surged dramatically due to record gold prices. For example, one of Jesse Owens’ medals from 1936 sold for approximately $1,470,000.
US swimmer Michael Phelps is the most decorated Olympian with 23 golds, 3 silvers, and 2 bronze, earning him the title of “King of medals” in the Summer Olympics and an estimated net worth of $100 million.
This significant wealth comes from his exceptional swimming career, smart business investments, and profitable brand endorsements.
Hence, the 2024 Olympic medals not only symbolise athletic achievement but also reflect economic dynamics as metal prices continue to fluctuate.
This makes it an exciting time to examine the raw values of the commodities that make up the Olympic medals.
Although various financial instruments like options, futures, and ETFs are available for trading gold and other precious metals, their performance can differ significantly, especially depending on the broker offering them.
Much like a top Olympian, VT Markets’ CFD precious metals—gold (XAUUSD), silver (XAGUSD), and copper (CME)—demonstrate a competitive edge in a highly dynamic market. Trading with VT Markets offers advantages like ultra-low spreads and flexible leverage options up to 500:1.
With a diverse precious metals portfolio for you to choose from, it’s easy to optimise your trading strategy and align them with your preference. In the same way athletes compete in multiple events to increase their chances of winning, trading various precious metals like gold, silver, and platinum helps diversify your portfolio, spreading out risk.
Unleash your athletic spirit
In celebration of the 2024 Paris Olympics, VT Markets is running a once-in-four-years campaign where you could win up to USD 14,000 from our prize pool by trading with us. Complete simple daily missions to earn rewards and stay in the race to maximise your gains.
Please note that the dividends of the following products will be adjusted accordingly. Index dividends will be executed separately through a balance statement directly to your trading account, and the comment will be in the following format “Div & Product Name & Net Volume ”.
Please refer to the table below for more details:
The above data is for reference only, please refer to the MT4/MT5 software for specific data.
If you’d like more information, please don’t hesitate to contact [email protected].
Please note that the dividends of the following products will be adjusted accordingly. Index dividends will be executed separately through a balance statement directly to your trading account, and the comment will be in the following format “Div & Product Name & Net Volume ”.
Please refer to the table below for more details:
The above data is for reference only, please refer to the MT4/MT5 software for specific data.
If you’d like more information, please don’t hesitate to contact [email protected].
The dollar is king, but it is at risk of losing its throne.
There’s talk going around about BRICS creating a new gold-backed international currency, sparking fears that it could spell trouble for America and the dollar as the world’s main currency.
If you trade gold and other US-related assets, you might want to read on.
Is there a good reason to create the BRICS currency?
Developing nations are growing vary of America’s financial dominance, especially with the recent sanctions from Russia.
There was a time when currencies were backed by gold. The more gold a nation has, the more money could be printed.
When the Bretton Woods agreement came into force, the US became a major economic power after World War II. The international monetary system that was set up by 44 allied nations viewed the USD as a safe currency to keep as reserves.
Under this system, gold was fixed at $35 per ounce. Countries sent lots of gold to the US, where the Treasury kept it safe. Central banks could trade their extra USD for gold whenever they needed to.
It was a dirty move played by the US that many have seemed to forget.
As today’s currencies aren’t backed by tangible assets, countries could print more money as needed—sometimes excessively. This is one reason why inflation is rampant in certain areas.
How a BRICS currency could replace the dollar
The appeal of having a common currency among the BRICS countries is obvious.
Imagine having an independent currency that remains neutral and not pegged to any country or government. It’s a new trade route with opportunities for the BRICS countries. They no longer must trade away precious commodities to receive stacks of paper money that could lose its value overnight.
The US has the world’s largest national debt, built on a system that could collapse like a house of cards. As trillions of dollars are printed and dispatched to balance international debt, the value of USD sees a disturbing drop.
Interested in learning more about monetary policies and how money printing works?
In Episode 2 of Traders Brew podcast, Beam Chanat, market analyst of VT Markets deep-dives into the topic of central banks and quantitative easing.
The idea of a common currency among the BRICS countries — Brazil, Russia, India, China, and South Africa — has raised questions about how it could affect forex trading.
1.Shift in currency pairs
For forex trading platforms, a BRICS common currency could mean changes in the currency pairs they offer. Instead of the usual individual pairs with BRICS currencies, platforms might start featuring pairs with the new common currency. Traders would need to familiarise themselves with these changes and learn how to analyse the new pairs effectively.
2.Less volatility on exchange rates
For forex traders, a BRICS common currency could make things a lot easier. Right now, exchange rates between different currencies can change quickly, which makes trading tricky. But with a common currency, traders wouldn’t have to monitor these fluctuations between BRICS countries. This could make trading more stable and predictable.
3.Impact on economic data
Forex trading depends a lot on economic data like interest rates, inflation, and economic growth. If there’s a common BRICS currency, data from these countries would become even more important for traders. Changes in one BRICS country’s economy could affect the common currency, influencing trading decisions across the board.
4.Higher demand for gold-backed currencies
Gold is an obvious asset that will be affected, so traders should observe the movements of XAUUSD. Another easy and obvious alternative could be investing in gold-backed cryptocurrencies, but a ‘crypto’ approach to the BRICS currency hasn’t been talked about publicly yet.
No official launch date, but the BRICS currency holds weight
It’s still too early to predict when a BRICS currency will be released as we are still in the phase of economic shift and exploration. In a financial paradigm shift, it’s wise to stay informed and adaptable on the true rival to the dollar.
Please note that the dividends of the following products will be adjusted accordingly. Index dividends will be executed separately through a balance statement directly to your trading account, and the comment will be in the following format “Div & Product Name & Net Volume ”.
Please refer to the table below for more details:
The above data is for reference only, please refer to the MT4/MT5 software for specific data.
If you’d like more information, please don’t hesitate to contact [email protected].
To provide a more favorable trading environment for our clients, VT Markets will have leverage adjustment for certain products on July 29, 2024. Please check the details below:
The above data is for reference only, please refer to the MT5 platforms for the updated data.
Friendly reminders:
1. All product settings stay the same except for the leverage.
2. The margin requirement of the trade may be affected by this adjustment. Please make sure the funds in your account are sufficient to hold the position before this adjustment.
If you’d like more information, please don’t hesitate to contact [email protected].
Please note that the dividends of the following products will be adjusted accordingly. Index dividends will be executed separately through a balance statement directly to your trading account, and the comment will be in the following format “Div & Product Name & Net Volume ”.
Please refer to the table below for more details:
The above data is for reference only, please refer to the MT4/MT5 software for specific data.
If you’d like more information, please don’t hesitate to contact [email protected].
Sydney, Australia, 24 July 2024 – VT Markets, an award-winning brokerage, announces the launch of its ‘Be a Trading Athlete’ campaign, an online trading competition hosted on the VT Markets App with a USD 14,000 prize pool. The competition runs from 24th July to 12th August 2024 and is open to all global users with a Live Account.
This large-scale global competition follows the success of VT Markets’ previous campaign, FIFA 2022, which saw overwhelming participation. The brokerage anticipates attracting up to 8,000 new users by the end of this season.
The competition is divided into four periods, each focusing on a different sport every five days: –
● Shooting: 24 July– 28 July 2024
● Swimming: 29 July – 2 August 2024
● Track and Field: 3 August – 7 August 2024
● Boxing: 8 August– 12 August 2024
Participants are required to complete tasks and earn tickets during each period, including trading, depositing, and checking-in, with up to 21 tasks per period. The top 20 participants with the most tickets will share the USD 14,000 prize pool at the end of each period.
“We are thrilled to bring this competition to our users worldwide during this spirited sports season”, says Kyzer Ong, App Campaign Manager of VT Markets. “As a growing international brand, we continually seek ways to foster inclusion and uphold our belief that trading can be easy. Our goal is to engage our clients through their shared interest in sports and inspire them to apply their competitive spirit to trading. This competition underscores values of resilience, strategy planning, and adaptability in uncertain times. Additionally, we are excited to introduce our highly anticipated Copy Trading feature in Q3 2024”.
The upcoming Copy Trading feature aims to empower investors on their financial journey by offering portfolio diversification. Traders can automatically replicate the portfolios of seasoned professionals and maintain an active portfolio passively, which is suitable for traders of all financial literacy levels.
To participate in the ‘Be a Trading Athlete’ competition, download the VT Markets App, register for a Live Account, and visit the Promotions Page to opt-in.
About VT Markets
VT Markets is a regulated multi-asset broker with a presence in over 160 countries. To date, it has won numerous international accolades including Best Customer Service and Fastest Growing Broker.
In line with its mission to make trading accessible to all, VT Markets currently offers unfettered access to over 1,000 financial instruments and a seamless trading experience via its award-winning mobile app.
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