Gold price (XAUUSD) cruised past the important milestone of $2,000 this week as investors remained worried about the weaker dollar and lower yields. And now, analysts believe that the rally is just getting started. In a report yesterday, I wrote that analysts at Deutsche Bank had boosted their outlook for...
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 (XAUUSD) momentum is continuing a day after the price crossed the important resistance of $2,000. The price is trading at $2,035, which is a few points below yesterday’s high of $2040. Similarly, silver price is up by more than 2.45% while other metals like palladium and platinum are...
Another day another record for gold price as the bulls continues to bid any pullback in the precious metal. Gold price approach fast the 2,000 mark in early American trading session
The gold price hit another record high during the Asian trading session today as investors rattled by new restrictions measures in Victoria Australia.
The gold price hit a new all-time high recently, and everyone sings the demise of the USD. The world’s reserve currency is at risk, according to many financial market participants. As the Fed keeps printing USD, the fear is that the dollar’s role in the international financial system will be […]
The USD has weakened modestly against gold, sending gold price higher towards the 1968.50 mark after the FOMC left the key Federal Funds rate unchanged at the 0.25% maximum rate a few minutes ago. In the accompanying statement, the Fed has said that it will be ready to deploy more […]
The growing number of COVID-19 cases in multiple countries is again painting a mixed picture for Asian stocks today. In Hong Kong, the Hang Seng index climbed by about 0.45%, even after its Chief Executive warned for surging numbers of Corona-related infections across the administrative region. Meanwhile, in China, the […]
Gold price stabilizes today following yesterday's volatile session. Gold hit record highs yesterday up to 1,981, but strong profit-taking in early European trading session pushed the price down to 1,909.
Gold price projections by Goldman Sachs have been upped. Sign up to find out the bank's new projected gold price.
It is a mixed picture across Asian-Pacific stocks today as traders are focused on rapidly rising Coronavirus cases in the U.S., the upcoming Federal Reserve meeting, which starts today, as well as multiple earnings and U.S. stimulus proposals. In Japan, the Nikkei 225 index fell by 0.30% while in Australia, […]