Gold price has recovered slightly from its intraday lows at 1891.54. Presently, there is a lot of risk on both sides of the equation. There is still no stimulus deal, and as move closer to the US election, the latter could assume greater importance in the scheme of things, with regards […]
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 fell below the $1,900, unable to keep a bullish bias. One week ahead of the all-important American elections, the price of gold faces tough resistance ahead. It formed a double top at $1,930 and now threatens to break from a triangle as a reversal pattern. The U.S. elections […]
The inability of the gold price to break above dynamic resistance makes it look weak here. Similar price action we can see on the EURUSD pair, that mirrors the price action in gold by the pip. With a little over one week until the U.S. elections, the ranges on gold […]
The price of gold has rallied 0.75% on the day to trade at $1,925 as the US dollar struggles with the second government stimulus package. After months of talks, during which the dollar rallied as a deal seemed unlikely, the talks have since been revived. After talks between the House […]
Gold price regained the $1,900 level and held it well. Despite yesterday’s selloff in the stock market, the price of gold failed to confirm the weakness. In fact, it does just the opposite, consolidating around dynamic resistance. Will it break higher? Judging by the pattern, it looks like a triangle […]
Gold price is up slightly today due to broad-based optimism on a new stimulus from the US Congress. The US Dollar fell across the board as investors await further comments from both sides of the divide to serve as catalysts for direction. On Sunday, House Speaker Nancy Pelosi seemed to […]
The U.S. elections are just around the corner, and the gold price is one market that reveals the uncertainty surrounding the event. While Biden leads in the polls at the moment, investors cannot forget what happened in 2016 when Trump recovered dramatically and eventually won the White House. So far, […]
Gold prices are lower on the day after renewed fears that there would be no stimulus on the table before the US Nov 3 elections. Hopes of a stimulus plan suffered a blow yesterday after US Treasury Secretary Steven Mnuchin indicated that it would be difficult to get a stimulus […]
Gold price got rejected from the apex of a contracting triangle and now heads for the second one. Despite a stronger USD yesterday and a decline in the price of gold, the yellow metal will likely correlate with the stock prices and a possible risk-on move towards the end of […]
Gold prices are holding steady above the $1,920 level and are looking for another push towards the August highs above $2,000. Prices have dipped slightly over the last two days after hopes for a second U.S. stimulus faded. A strong commodities rally in July was spurred by fears over debt […]