The gold price had a strong comeback from its move below the $1,700 mark. It formed a double bottom there,...
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.
Gold price has begun the week in green as investors ponder on Bitcoin’s volatility. In the recent past, cryptocurrencies have...
The recent reversion in the difference between the Gold price and the bitcoin price comes as JP Morgan suggests investors...
Gold price on the XAU/USD chart has given up the gains for the day after a surprisingly hawkish FOMC minutes...
The latest consignment of the CFTC Positioning report indicates that there has been an increase in the number of net...
Inflation data in the US did not derail the gold price. The market found dynamic support while inside a rising...
If gold is an effective hedge against inflation, why didn’t Wednesday’s huge inflation data send the gold price much higher?...
Gold price action has reversed earlier losses on the day after the US Consumer Price index number came in at...
Gold prices came under bearish pressure just before the NY session, but bulls have been able to snatch back most...
Gold looks bid at current levels, forming a possible pennant formation ahead of the inflation data in the United States....