Gold price recovered some of the lost ground as bulls pushed it above $1,700 recently. However, the price of gold...
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 prices are ticking upwards, buoyed by the FOMC statement which plots a resumption of rate hikes in 2023 in...
Gold prices have been range-bound over the past three sessions. The precious metal has been trading within the range of...
Gold price recovered recently and showed some signs of bottoming. In fact, traders may spot a small head and shoulders...
Gold prices are being pressured by the resurgent Bitcoin price ahead of the Fed interest rate decision. The yellow metal...
Gold price on the XAU/USD chart has shed off all its earlier gains on the day after a rebound in...
Gold price bounced this week on the back of a declining dollar across financial assets. The trigger, unsurprisingly, was the...
Gold price broke below $1,600 as the yields in the United States continue to rise. Last week Jerome Powell, the...
Bearish bias on the XAU/USD pair has been retained, following the better-than-expected outcome of the Non-Farm Payrolls report. Data released...
Gold price is struggling. Its price has declined to $1,695, which is the lowest it has been since June last...