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1. Become familiarized with gold and its cultural and economic significance. An understanding of the historic and current role played by gold across the world will lead to a deeper understanding of its scarce nature and why its value has risen so steadily since the early 2000s. There are numerous online resources, including trading websites, for learning about gold's financial significance. One example is included in the 'Resources' section below.
2. Find instruction in how to become an effective trader in the gold markets. Many foreign exchange, or FOREX, websites now offer gold-trading opportunities and provide users with a variety of introductory articles and videos (example provided under 'Resources' below). In many cases, these sites also provide, either free-of-charge or for a small fee, structured courses on how to make the best use of the tools currently available to traders.
3. Practice trading gold at real-time prices using a risk-free demo trading account. Demo trading accounts are provided by trading websites and include access to a demo trading platform credited with roughly $50,000 in virtual funds (i.e. 'play money') that may be used to purchase virtual gold bullion and futures contracts. Most demo accounts expire after 30 days, so be sure to use available practice time wisely. Experience with a demo account should help gauge whether you are ready to begin trading with a live account.