Gold price is on a rebound after declining to its lowest level since the beginning of May. The plunge has been a knee-jerk reaction to the Fed’s hawkish surprise. The US central bank hinted at two probable rate hikes by the end of 2023. As a result, the dollar index […]
In this section, you will find important Gold price news, actionable trading ideas, and a live XAUDUSD chart to help you understand the markets better.
The gold price is a key factor that affects financial markets and the global economy. Gold is one of the top commodities, only behind crude oil, and is trading almost 24 hours a day Monday to Friday. London, New York, Tokyo, Zurich, Hong Kong, and Sydney are where most of the gold trading activity takes place.
Gold historically has been thought of as a store of wealth and is used as a luxury good as much as an investment.
Gold tends to outperform during periods of financial turbulence or economic weakness. Gold attracts safe heaven inflows during periods of high risk in the markets. The yellow metal has protected portfolios against inflation. Historically when inflation has been higher than 3% the price of gold has increased by about 15 percent.
The factors that affect the price of Gold among others are supply and demand, interest rates, central banks, geopolitics, currency fluctuations, etc. The US dollar remains the benchmark currency for gold. Many economists note that because of gold’s intrinsic value, it is seen more as a currency than a commodity, and that is why gold is referred to as monetary metal. Gold is highly inversely correlated to the U.S. dollar and bond yields. When the value of the USD increases gold becomes more expensive for other nations to purchase. This causes gold demand to fall, which is why there’s generally an inverse relationship between the Greenback and the gold price.
Live Gold Price Chart
Gold Price News (XAUUSD)
The price of gold took a hit as the Federal Reserve of the United States took markets by surprise and delivered a hawkish statement. The Fed raised the interest rate on excess reserves and admitted that it is looking at starting the tapering of its asset purchases. But the biggest […]
Gold price tanked shortly after the FOMC decision, as the US Federal Reserve appears to have assumed a more hawkish tone concerning inflation and the QE program. The latest FOMC projections reveal that three more policymakers see a lift-off of the interest rates from zero in 2022, bringing the total […]
The price of gold did not reflect the rise in prices of goods and services in the United States. Inflation in the last two months has grown at a pace not seen since three decades ago. However, the gold price, the traditional hedge against inflation, did not reflect it. Instead, […]
The Gold price has continued to retreat from $1,900, slipping -0.70% to $1,864. This week’s FOMC will either make or break XAU/USD. Gold has started the week on the back foot as we approach what could be the biggest clue for its prospects in quite some time. On Wednesday, the […]
The price of gold rallied since last April and did not look back until it reached $1,900. The bullish trend started from a double bottom below $1,700, and the move higher formed a series of higher highs and higher lows, typical for a bullish trend. Yet, the recent rejection after […]
The price of gold bounced from the $1,860 area last Friday on a worse than expected NFP report in the United States. Despite the general weakness in the dollar, the move higher did not break the series of lower highs, and now the market meets horizontal resistance. Commodities remain well […]
Gold price (XAU/USD) has spiked 0.92% on the day after the lacklustre Non-farm Payrolls report that showed a modest rise in employment change and a lower unemployment rate. The NFP Employment Change came in at 559K, which was less than the consensus figure of 645K. Also, the unemployment date dropped […]
The price of gold had a tough day yesterday as it fell from the $1,900 level. The market tested three times in a row the same level, and, on its move lower, it broke the previous higher low. In technical terms, this is a bearish trend, and traders will likely […]
Gold price (XAU/USD) fell heavily on Thursday by more than 1.8% after the number of Americans filing first-time claims for unemployment benefits dropped below 400,000 for the first time since the pandemic began in March 2020. Private sector employment also got a huge boost, with nearly a million jobs added […]