Gold price forms a massive head and shoulders pattern on the daily chart, one that should act as a continuation pattern. Typically, head and shoulders patterns appear at the end of rising trends. However, during falling trends, they do not act as reversal patterns but as continuation ones. The price […]
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)
Gold price remains range-bound, even as incoming US Treasury Secretary Janet Yellen provides testimony to the Senate Finance Committee. She is making a case for massive stimulus and investment to get the US economy back on track. Yellen, who superintended over the Fed Reserve in the final years of the […]
Continuing strength on the greenback served to cap the upside move on gold prices today. Gold prices on the XAUUSD pair is still trading below $1850, and could be up for some volatility as incoming Treasury Secretary Janet Yellen provides testimony at Capitol Hill on January 19. Gold price could […]
The week started with a bearish note for the yellow metal as the gold price dropped on an overall strong dollar. The stronger greenback theme is seen across the markets as the surprise of 2021 so far because everyone has forecasted a lower dollar to follow last year’s price action. […]
As incoming US President Joe Biden has shared details of an additional $1.9trillion economic recovery plan, investors have started to shed their exposure to safe-haven assets. Gold price on the XAUUSD chart fell as a result. Despite the announcement of a large stimulus that would see Americans receive an additional […]
The gold price looks weak here as the market forms a triangle as a continuation pattern. Since the second rejection from the $1,960, the price of gold was not able to put a meaningful bounce. As such, it just consolidated on the horizontal, looking for direction. The market this week […]
Gold prices continue to trade in the narrow range of the last three days, as the market buzz surrounding the asset on Thursday is the speech by US Fed Chair Jerome Powell. This speech may touch on when the Federal Reserve may start to cut down on the quantitative easing […]
Gold price is under intense pressure today even after relatively strong inflation numbers yesterday. The XAU/USD price is trading at 1,842, which is substantially lower than yesterday’s high of $1,958. Other commodities are also struggling, with the silver price falling by more than 1.2% and lead and zinc falling by […]
Gold price is crawling back today after falling by more than 7% on Monday. The XAU/USD pair is trading at 1,860, which is slightly higher than this week’s low of 1,815. Other metals are also rising, with silver and palladium prices rising by about 0.30%. What happened: Gold, and and […]
Gold price action on the XAUUSD chart shows that bulls have lost the momentum that they started the day with after the US Dollar firmed broadly within the hour. As such, bulls are having trouble holding on to gains above $1850, and gold prices look vulnerable below this level. With […]