Know the hours that move gold.

Know the hours that move gold.

The best time to trade gold from Nigeria is usually the London and New York overlap: about 14:00 to 18:00 West Africa Time from early November to mid-March, and 13:00 to 17:00 from late March to October. Liquidity in XAU/USD is highest then, spreads are tightest, and the main scheduled events happen inside the window: US jobs and inflation data arrive at 14:30 WAT in the northern winter. The worst time is around 23:00 WAT, when gold's reference market takes its daily break.

Nigeria stays on UTC+1 all year. London and New York change their clocks, so gold's busy hours shift by an hour in Lagos twice a year. Both versions are below.

Best window (Nov to mid-Mar)14:00 to 18:00 WAT
Best window (late Mar to Oct)13:00 to 17:00 WAT
US data (08:30 New York)14:30 WAT in winter, 13:30 in summer
LBMA Gold Price auctions11:30 and 16:00 WAT in winter
Daily break in gold23:00 to 00:00 WAT in winter

Gold's day in Lagos time

Gold trades from Sunday evening to Friday evening New York time, following CME Group's gold futures on Globex, which pause for one hour each day. Converted to West Africa Time, a weekday from early November looks like this:

A gold trading day in West Africa TimeEarly November to mid-March (UK and US on standard time)00:0003:0006:0009:0012:0015:0018:0021:0000:00Asia (Tokyo)LondonNew YorkOverlapBreakLBMA AMUS dataLBMA PMFOMCSource: CME Group hours; LBMA/IBA auction times; FX Recap conversion to WATfxrecap.com
In Lagos the overlap falls in the afternoon, during normal working hours.
EventNov to mid-Mar (WAT)Late Mar to Oct (WAT)
Asia (Tokyo) session01:00 to 10:0001:00 to 10:00
London session09:00 to 18:0008:00 to 17:00
New York session14:00 to 23:0013:00 to 22:00
London-New York overlap14:00 to 18:0013:00 to 17:00
LBMA Gold Price auctions11:30 and 16:0010:30 and 15:00
US data (payrolls, CPI)14:3013:30
FOMC statement20:0019:00
Daily break23:00 to 00:0022:00 to 23:00

Around the clock changes in March and late October to early November, the UK and US switch on different dates, so a few times are an hour different for those weeks. Your MetaTrader platform shows the broker's server time; check the XAUUSD Specification window for its exact sessions.

Best and worst hours compared

Gold from Lagos: when to trade and when to waitTimes in WAT, early November to mid-MarchHours that cost moreBetter hours23:00 to 00:30: daily break andreopening14:00 to 18:00: London-New York overlap14:29 to 14:35 on US data days09:00 to 13:00: London morning, steadier20:00 to 20:30 on Fed days15:00 onwards on data days, once spreadssettleFriday after 21:00, before the weekend18:00 to 21:00: New York afternoon01:00 to 06:00: thin Asian hoursPlan swing trades after 18:00Source: CME Group hours; US release times; FX Recapfxrecap.com
Most avoidable trading costs come from the wrong hour, not the wrong broker.

What happens in each session

  • Asia (01:00 to 10:00 WAT): lighter trading; gold often moves in a narrow range unless there is overnight news.
  • London (09:00 to 18:00 WAT): London is the hub of the over-the-counter gold market, and the LBMA Gold Price is set twice a day. Activity rises sharply from the London open.
  • New York (14:00 to 23:00 WAT): US data, Fed decisions and futures trading dominate. The first hours of the overlap are usually the busiest of the day.

Events that move gold

  • US non-farm payrolls: usually the first Friday of the month, 14:30 WAT in the northern winter.
  • US CPI inflation: monthly, also at 14:30 WAT in winter.
  • Fed decisions: eight scheduled FOMC meetings a year, statements at 20:00 WAT in winter.
  • Geopolitical news: unscheduled, any hour; always use a stop-loss.

Check the day's calendar on our forex news page before trading gold.

Why the overlap matters

Gold's spread, the gap between the buy and sell price, depends on how many dealers are quoting at that moment. In the London-New York overlap, the two biggest centres for gold are open together, so prices are quoted tightly and large orders are absorbed without big jumps. In the quiet hours after the daily break, fewer dealers are active and spreads widen. A strategy that pays a small spread in the afternoon can pay several times more at night for exactly the same trade.

The overlap also brings most of the day's movement. Traders who need price to move to reach a target usually find it in those four hours; traders who want calm conditions to learn may prefer the London morning, from 09:00 to 13:00 WAT.

A daily gold routine for Nigerian traders

  1. Morning: check the calendar for US data, Fed speakers and other central bank decisions.
  2. London session: mark key levels while the market is steadier, between 09:00 and 13:00 WAT.
  3. Overlap: trade between 14:00 and 18:00 WAT in winter, staying flat for a few minutes around 14:30 releases.
  4. Evening: manage open trades; on Fed days decide before 20:00 WAT whether to hold through the statement.
  5. Before 22:30 WAT: close or protect positions ahead of the daily break.

Week and month: when gold is busiest

Within the week, Monday morning in Asia is often quiet while traders wait for London, and Friday afternoons can be busy on payroll days and then fade. Within the month, the first Friday (payrolls) and the US inflation release are usually the biggest scheduled days for gold, along with the eight Fed decisions spread through the year. Marking these dates at the start of each month helps you plan when to trade more, and when to step aside.

Trading gold from Nigeria: practical points

  • Most Nigerians trade gold with international brokers. SEC Nigeria says operating an online forex platform without its registration is an offence; read our guide Is forex trading legal in Nigeria? before choosing a broker.
  • Gold moves fast: a 0.01 lot is usually one ounce, so a $10 move is about $10 on that size. Use the gold lot size calculator to set size from your stop.
  • If you fund in naira, conversion rates and fees add to your costs; record the rate used for every deposit and withdrawal for tax purposes. See forex trading tax in Nigeria.
  • Power and internet interruptions are a real risk for evening trading; a stop-loss on the server protects you if your connection drops.
Illustrative example

A trader in Abuja works from home and used to trade gold late in the evening. He kept losing to wide spreads around the 23:00 WAT break and to sudden moves on Fed nights. He switched to trading 14:00 to 17:00 WAT, stayed flat for five minutes either side of 14:30 on US data days, and closed or protected every trade before 22:30. His trade count barely changed; his costs and surprise losses fell.

Keep a sticky note with three times: 14:30 (US data), 20:00 (Fed days) and 23:00 (daily break), all WAT in the northern winter. Subtract an hour from late March.

Gold CFDs are leveraged and can move very fast around news. Trading carries a high risk of losing money. This guide is education, not financial advice.

This is general information from official sources, not legal or tax advice. Rules change; check the tax authority's current guidance, or speak to a qualified adviser, before acting.

Cite this guide

FX Recap, "Best Time to Trade Gold in Nigeria (West Africa Time)", updated 5 November 2026, https://fxrecap.com/top-broker/in-south-africa/best-time-to-trade-gold-nigeria

Free to quote with a link. Journalists: data and comment in our press room.

Frequently asked

What is the best time to trade gold in Nigeria?

The London-New York overlap: about 14:00 to 18:00 WAT from early November to mid-March and 13:00 to 17:00 WAT from late March to October.

What time is US news for gold in Nigeria?

US data at 08:30 New York time, such as payrolls and CPI, comes out at 14:30 WAT in the northern winter and 13:30 WAT in summer.

What time does gold close in Nigeria?

Gold pauses daily at about 23:00 WAT in the northern winter (22:00 in summer) for an hour. The week closes on Friday at 17:00 New York time, 23:00 WAT in winter.

When is the worst time to trade gold from Lagos?

Around the daily break near 23:00 WAT, the minutes around US data and Fed statements, late Friday night and the thin early-morning Asian hours.

Is it legal to trade gold CFDs in Nigeria?

We found no law banning individuals from trading, but SEC Nigeria says operating an online forex platform without its registration is an offence. See our Nigeria legality guide.

Official sources: CME Group: gold futures fact card · LBMA: LBMA Gold Price