NFP shows mixed numbers, leaving gold price relatively unchanged.
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 managed to recover the lost ground on an extremely weak USD. The bearish USD trend seen across the...
Will gold price clear the $1850 level or not? The NFP report due tomorrow could decide this. Sign up to read more.
The gold price has rallied for a third-straight day as bullish traders try to get the uptrend back on track....
Gold price (XAUUSD) has gained more than $50 due to broad-based selling on the US Dollar, allowing it to push...
Gold price is up for the second consecutive day as investors react to the overall weaker US dollar and cryptocurrencies....
Gold price bounced strongly from the lows, in line with the recent developments in the US dollar trend. As the...
Gold price has retaken the 1800 price level as it pares most of its losses for the last week of...
Gold price continues its bearish move after it reversed from all-time highs. The move lower comes after a triangle as...
Gold prices were $5 lower (0.3%) in early-Monday trading after the precious metal failed to hold a bounce from the $1,800 support level on Friday.
Gold has been struggling over the last three weeks despite...