A limit order is an automatic transaction that will execute when a certain spot price is reached.
A buy limit order will automatically create a buy order when spot price falls to, or below a level that you designate. For example, if you create a buy limit order with a target spot price of $1,900, the transaction will execute when spot price drops to $1,900 or lower. Buy limit orders can be created in terms of metal ounces, or a set dollar amount.
A sell limit order will automatically create a sell order for metal that you currently own, when spot price rises to, or above a level that you designate. For example, if you create a sell limit order for 10 ounces of U.S. Gold with a target spot price of $1,900 the transaction will execute and liquidate 10 ounces of U.S. Gold, when spot price rises to, or above $1,900. Sell limit orders can be created in terms of metal ounces, or a set dollar amount.