Ahead of tomorrow’s FOMC decision, the gold price on the XAUUSD chart has moved 1.2% to the upside at the...
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 turned ugly recently as traders pay close attention to US stimulus talks, vaccine roll-out, and the upcoming...
A classic reversal pattern for the gold price points to a move well below the $1,800 level. The price of...
Gold price action on the XAU/USD chart is firmer this Thursday after a double release of US data further put...
Gold price was rejected from the $1,870 area yesterday and now consolidates on a possible right shoulder of a head...
Gold price is set to decline further as more institutional investors shift to Bitcoin and other better-performing digital currencies. That...
The gold price has rallied strongly from the $1,800 level after US Dollar weakness continued. The precious metal is now testing the key $1,863 price and this will determine the next direction for gold.
Gold price bounced back from the lows and now retests the lower edge of the triangle that acted as a...
Gold price has bounced back in the past few days and analysts at Citi expect the rally to accelerate. This...
Gold price spiked a few minutes ago as the greenback’s early session strength faded. The XAUUSD pair has hit 2-week...