Gold trades almost around the clock, from Sunday evening to Friday evening. But it does not move the same way all day. A gold chart can drift a few dollars for hours during the Asian morning, then travel several times that distance in the first hour after a US data release.
If you use the same stop and the same size at 03:00 UTC and at 13:30 UTC, one of the two is wrong. This guide explains the three sessions, the hours that matter most for XAU/USD, and how to plan a trade around them.
When gold trades
Spot gold (XAU/USD) and COMEX gold futures trade nearly 24 hours a day, five days a week. Most brokers open gold on Sunday evening (New York time) and close it on Friday evening, with a short daily break around 5 p.m. New York time. Check your broker's contract page: the break and the weekend times differ slightly between brokers.
Inside that window, three regional sessions take turns.
The Asian session (about 00:00 to 08:00 UTC)
Tokyo, Hong Kong, Singapore and Shanghai are active. Physical demand from Asia matters for gold over the long run, but on an intraday chart this session is often the quietest. Ranges tend to be narrow, and price frequently builds a small range that later sessions break.
The London session (about 07:00 to 16:00 UTC in winter)
London is the center of the physical gold market. The LBMA gold price is set twice a day by auction, at 10:30 and 15:00 London time, and is used as a reference price by banks, refiners and funds. Volume picks up sharply at the London open, and the Asian range is often tested in the first hours.
The New York session (about 13:00 to 22:00 UTC in winter)
New York brings COMEX futures volume and, above all, US economic data. Gold is priced in dollars and is sensitive to interest rate expectations, so US releases often produce the largest candles of the day.
The London and New York overlap
When both London and New York are open (roughly 13:00 to 16:00 UTC in winter, 12:00 to 16:00 UTC in summer), the most participants are active at the same time. For many gold traders this is the main window: more volume, tighter spreads, and the moves that define the day's range.
The releases that move gold
These US releases are scheduled at 8:30 a.m. New York time (13:30 UTC in winter) unless noted:
- Nonfarm payrolls (NFP), usually the first Friday of the month.
- CPI inflation, monthly.
- FOMC rate decisions, eight times a year, at 2:00 p.m. New York time, followed by the press conference.
- Fed chair speeches and other central bank comments, at various times.
Around these releases, spreads can widen for a few seconds to minutes and price can jump through levels. Many traders either stand aside until the first candle closes or reduce their size. An economic calendar with times in your own time zone is part of a gold trader's daily routine.
Daylight saving: the hours shift twice a year
The session times above move by one hour when clocks change, and the US and the UK do not change on the same day. The US moves its clocks on the second Sunday of March and the first Sunday of November; the UK on the last Sundays of March and October. For a week or two each spring and autumn, the London and New York gap is one hour shorter or longer than usual.
Practical rule: write down the session times in your own time zone and update them after each clock change. If your gold setups depend on the London open or the 13:30 UTC release, a one-hour mistake puts you in the market at the wrong moment.
Measure the sessions on your own chart
Do not rely on any article, including this one, for how much gold moves in each session. Measure it on the period you trade:
- Open a 1 hour XAU/USD chart and go back about 4 weeks.
- For each day, write down the high minus the low of the Asian hours, then of the London morning, then of the overlap.
- Average each session and note the largest single range.
- Mark which days had a US release at 13:30 UTC.
You now know the typical move of each session on your broker's feed, which is what your stop has to survive.
Worked example: sizing by session
The prices below are round numbers chosen to keep the math simple. They are not current prices, and contract sizes vary by broker: here 1 standard lot = 100 ounces, so a $1 move is $100 per lot.
You have a $2,000 account and risk 1% per trade: $20.
- Asian range trade. Gold at 2,000.00, stop below the range low at 1,997.00. The stop is $3.00 away. Size = 20 / (3.00 x 100) = 0.066 lots, rounded down to 0.06.
- Overlap breakout trade. Same price, but your measurement shows the overlap moves much further, so the stop goes below the previous day's low at 1,992.00: $8.00 away. Size = 20 / (8.00 x 100) = 0.025 lots, rounded down to 0.02.
Both trades risk about $20. The overlap trade has a wider stop and a smaller position. Using the Asian size with the overlap stop would risk $48, 2.4% of the account. The position size calculator does this split for you, and the pip value calculator helps when your broker uses a different contract size.
5 session rules for gold
- Size from the stop, and the stop from the session. A wider stop in a busy session means a smaller position. The position sizing guide explains the formula.
- Mark the Asian high and low before London opens. They are the first levels the London session tests. The support and resistance guide shows how to draw them as zones.
- Check the calendar every morning. Know whether a 13:30 UTC release is coming before you enter.
- Expect fake breaks at the open. The first move out of the Asian range is not always the real one. The breakout vs fakeout guide lists what to wait for.
- Place the stop beyond the level, not on it. Gold often reaches just past obvious highs and lows before turning. The stop loss guide explains where it belongs.
Common mistakes
- Trading the Asian drift as a trend. A slow climb on thin volume can reverse within minutes of the London open.
- Holding a tight stop through NFP or CPI. A stop sized for a quiet hour may be hit by the first second of the release.
- Forgetting the clock change. The release that came at 12:30 UTC in October comes at 13:30 UTC in November.
- Ignoring the spread. Spreads on gold widen around the daily break and around news; a stop placed a few cents beyond a level can be hit by the spread alone.
FAQ
What is the best time to trade gold?
Many traders focus on the London and New York overlap, roughly 13:00 to 16:00 UTC in winter, because volume is highest. "Best" depends on your setup: range traders may prefer the quieter Asian hours. Measure each session on your own chart first.
What time does the gold market open?
Most brokers open XAU/USD on Sunday evening, New York time, and close it on Friday evening, with a short daily break around 5 p.m. New York time. Exact times depend on your broker.
Why does gold move so much at 13:30 UTC?
In winter that is 8:30 a.m. in New York, the time of major US data such as payrolls and CPI. Gold reacts to anything that changes interest rate expectations and the dollar.
Is gold quiet during the Asian session?
Often, on intraday charts, but not always. News from Asia or a large order can still move it. Treat a narrow Asian range as a level to watch, not a guarantee.
Should I trade gold during news releases?
Beginners usually do better waiting until the first candle after the release has closed, with a size calculated from a wider stop. Spreads and slippage around the release make tight stops unreliable.
Check your gold levels
ChartEdge AI reads a chart screenshot and gives you the trend, key support and resistance zones, and a plan with entry, stop and targets, so you can see how far the stop must sit before you size a gold trade. See the gold chart analysis page or try it with 3 free analyses, no card required. Educational only, not financial advice.