Goldwise is designed to give continuous access to physical precious metals markets, with 24/7 trading supported by a structured approach to pricing, execution, and order behaviour.
This article explains:
- How trading periods work (including Extended Hours Trading)
- The four order types available
- How orders behave in different market conditions
In Summary
- You can trade 24/7 on Goldwise
- Market Orders always execute
- Limit, Stop, and Stop Limit orders only operate during live market conditions
- EHT provides access, but with controlled execution rules and wider spreads
1. 24/7 Trading
Goldwise allows you to place and execute trades at any time, including weekends and outside traditional market hours.
However, there are two distinct trading conditions:
Normal Market Hours
These are the hours when underlying institutional precious metals markets are active.
Key characteristics:
- Live, continuously updating prices
- Tight, market-driven spreads
- Full execution across all order types
- Highest liquidity
All order types behave normally during this period.
Extended Hours Trading (EHT)
When underlying markets are closed, Goldwise operates in Extended Hours Trading (EHT) mode.
Key characteristics:
- Prices are static (last available market price)
- Market orders still execute
- Conditional orders do NOT trigger or fill
- Wider spreads applied to manage hedging risk
This ensures you can still trade, while protecting execution integrity when liquidity is unavailable.
2. Order Types
Goldwise offers four order types, each designed for different trading strategies.
a. Market Order (Best Price)
A Market Order executes immediately at the best available price.
How it works:
- Your order is matched against the best available bid/ask
- Execution is immediate
- Price may vary slightly depending on market movement and size
Behaviour:
- Executes 24/7, including during EHT
- During EHT, executes at the static price + adjusted spread
Use case:
- When speed of execution is more important than price precision
b. Limit Order
A Limit Order lets you set the exact price you want to buy or sell at.
How it works:
- Buy: executes at your price or lower
- Sell: executes at your price or higher
- Order remains open until matched or cancelled
Behaviour:
- Only executes during core market hours
- Does not trigger or fill during EHT
Use case:
- When you want control over entry or exit price
c. Stop Order
A Stop Order becomes a Market Order once a specified trigger price is reached.
How it works:
- Buy stop: triggers when price rises to your level
- Sell stop: triggers when price falls to your level
- Once triggered → executes at best available price
Behaviour:
- Triggering only occurs during core market hours
- No triggering during EHT
- Once triggered, behaves like a Market Order
Use case:
- Entering momentum trades
- Protecting against losses (stop-loss)
d. Stop Limit Order
A Stop Limit Order combines a trigger price and a limit price.
How it works:
- When trigger price is reached → a Limit Order is placed
- Execution only occurs at your specified limit price or better
Behaviour:
- Triggering only during core market hours
- No triggering or execution during EHT
- Execution depends on market reaching your limit price
Use case:
- More controlled risk than a Stop Order
- Avoids slippage but may not execute
3. Key Differences in EHT vs Market Hours
| Feature | Core Market Hours | Extended Hours Trading (EHT) |
|---|---|---|
| Pricing | Live | Static |
| Liquidity | High | Limited (hedged) |
| Market Orders | Execute | Execute |
| Limit Orders | Execute | Do not execute |
| Stop Orders | Trigger & execute | Do not trigger |
| Stop Limit Orders | Trigger & execute | Do not trigger |
| Spreads | Tight | Wider (risk-adjusted) |
4. Why This Structure Exists
Precious metals markets are institutional and OTC-driven, not fully continuous like crypto.
During market closures:
- There is no live liquidity to hedge against
- Prices cannot update reliably
- Conditional triggers cannot be safely validated
Goldwise’s approach ensures:
- Continuous access (via Market Orders)
- Fair and transparent pricing
- Protection against poor or artificial execution
5. Market Schedule:
Below are the typical trading periods and times
| Day | Period | Type |
|---|---|---|
| Mon–Thurs | 00:00:00 — 21:59:59 | Normal Market Hours |
| Mon–Thurs | 22:00:00 — 22:59:59 | Weekday Extended Hours (Weekday-EHT) |
| Mon–Thurs | 23:00:00 — 23:59:59 | Normal Market Hours |
| Friday | 00:00:00 — 21:59:59 | Normal Market Hours |
| Friday | 22:00:00 — 23:59:59 | Weekend Extended Hours (Weekend-EHT) |
| Saturday | 00:00:00 — 23:59:59 | Weekend Extended Hours (Weekend-EHT) |
| Sunday | 00:00:00 — 22:59:59 | Weekend Extended Hours (Weekend-EHT) |
| Sunday | 23:00:00 — 23:59:59 | Normal Market Hours |
Exception: UK and USA bank holidays may alter the schedule.
All times are in UK time. Schedules may vary slightly during daylight saving transitions.
