Gold prices dipped on Thursday ahead of the Non-Farm Payrolls report due on August 6. The drop in gold prices...
Gold 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.
The Gold price was firmly bid yesterday following the Huge US GDP miss. Could this be the start of another...
Gold prices have edged higher this Thursday after the Bureau of Economic Analysis reported slower-than-expected growth in the US economy...
Gold price maintained the bullish momentum of the day and closed higher after the FOMC reiterated it was not in...
Gold price on the XAU/USD chart is trading lower today as demand for the greenback sends the pair sharply lower...
Gold price remains under pressure even as it continues to find support at the crucial level of $1,800. On the...
Gold prices took a further sprint to the north after the US Dollar fell on Wednesday, following comments by Fed...
The US inflation runs hot, as seen by the YoY data released yesterday. It reached 5.4%, well above the Fed’s...
Gold price has bounced from $1,760 recently but found resistance at $1,800. Ahead of the Fed’s semiannual testimony this week,...
The rally in gold prices continued on Thursday, following the US dollar slump and lower long-term bond yields. These events...