Rising bond yields presented an opportunity for a retracement pullback in the gold price this Friday. The US 10-year Treasury asset added more than 2% on the day in a rebound which followed a sandwich of progressive losses interspersed with minor gains. The precious metal had pushed towards $1750 after […]
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 is eyeing $1750 following the easing of the US treasury yields and the dollar. On Wednesday, the precious metal was at 1740. At the same time, the greenback was up by 0.05% at 92.35 after declining in the previous session to 92.27. In the year’s first quarter, the […]
This gold price update on the XAU/USD pair shows that profit-taking and falling long-term bond yields on US Treasuries are taking a toll on the greenback, allowing the pair to pare some of last week’s losses. Gold price on the XAU/USD pair is up 0.95% as investors take profit following […]
The price of gold trades with a bullish tone as it bounced back from a double bottom pattern. The projected measured move suggests a target of $1,800 once the price clears the horizontal resistance given by the neckline. Gold declined ever since it made a new all-time high in the […]
Gold price is up by 0.43% at $1,714.72 following the easing of the US treasury yields and dollar. However, the precious metal remains in a bear market as it has for the better part of the year. On Thursday, the 10-year treasury yields fell by 1.40% to 1.722 after the […]
Gold price reversed from a triangular pattern and now is back below the main bearish trendline. Put it simply, the price action is back into bearish territory, especially considering the fact that the series of lower highs that started with the double top pattern remains in place. For the price […]
Gold price took a further hit on Monday, as US Treasury yields on the 10-year note tracked up once more during the New York session. The US 10-year Treasury Note was up 1.18% as of the time of writing, as investors have begun to bet that infrastructure spending plans due […]
Gold price was trading at 1,723.94, down by 0.51% amid the heightened optimism on the fast recovery of the US economy. On Monday, the dollar index was up by 0.09% at 92.82. The passing of the stimulus package, as well as progress of COVID-19 vaccinations in the country, has fuelled […]
Gold price appears to have formed a bottom recently. While the crude oil price corrected from the highs, dropping over ten dollars in less than a week, gold holds the ground and even broke above a major bearish trendline. Moreover, it formed a triangle as a continuation pattern, and the […]
Gold price remain on the consolidation pattern for the 5th consecutive session. On Tuesday, the precious metal was trading at $1738.75 ahead of the US new home sales data. The numbers, which are scheduled for release later in the day are a measure of consumer spending and the overall health […]