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)
With the coronavirus now spreading to over 17 countries, investors have switched to risk-off mode. Gold price skyrocketed in response to risk aversion. XAUUSD rallied to an intraday high of $1,567.81 from a low of $1,551.80. Yesterday, news of Hong Kong recording its first case of the coronavirus infection spooked [...]
Wuhan China on Lockdown Gold price traded higher yesterday as concerns of the coronavirus continued to weigh down on market sentiment. XAUUSD rallied to close at $1,558.38 after bottoming out at $1,550.00. Today, the precious metal is seeing some downward pressure as China made good on its promise to contain [...]
Gold price initially traded higher yesterday as the outbreak of the new coronavirus shook market investors. However, XAUUSD quickly gave up its gains and even tapped $1,546.15, before finishing the day at $1,557.93. In doing so, gold price formed a lower high which followed two consecutive highs. When you enrol [...]
Blasts in Baghdad's Green Zone Drive Gold Price Higher Gold price surged in today’s Asian session as market sentiment is slowly tilting to risk aversion. XAUUSD jumped $8.6 in an hour to $1,568.46. This was following news that there were blasts in Baghdad’s Green Zone. The causes and casualties are [...]
Inverse Head and Shoulders Spotted on XAUUSD After gold price skyrocketed in the last few trading days of 2019, XAUUSD has given up most of its gains. Drawing the Fibonacci retracement tool from the low of December 13, the precious metal looks to have pulled back to the 50% Fib [...]
Gold price started the trading session 0.20% higher at 1555 as the precious metal consolidation phase continues. Risky assets were under pressure after the positive economic data from the USA and the signing of phase one trade deal between China and the USA. US retail sales increased at a month-over-month [...]
Bullish Confirmation on the Daily Chart of Gold Since tensions in the Middle East died down, it has been a relatively quiet week for gold. The recent slide on XAUUSD was brought about by optimism for the US-China Phase One Deal. But now that that’s over, risk appetite seems to [...]
Hammer at Previous Highs and Fib Level Gold prices initially traded lower early in yesterday’s Asian trading session. XAUUSD dropped to an intraday low of $1,535.39 after opening at $1547.82. However, the precious metal found bids at this price level which previously served as resistance. This area also coincides with [...]
US and China Set to Sign Phase One Deal Gold prices continued to slide in yesterday’s trading as risk appetite continued to improve. XAUUSD fell from its opening price at $1,560.06 to close the day at $1,547.23. The market’s risk-on sentiment is mostly driven by the Phase One Deal between [...]
Gold prices benefitted from the worse-than-expected NFP data from the US on Friday. XAUUSD bottomed at $1,545.63 during the Asian session and steadily traded higher to close at $1,561.98, $9.81 higher than where it opened. Gold Prices Higher on Concerns About the US Economy The much-anticipated NFP report for December [...]