Gold prices are little changed today after plunging by more than 2% yesterday. The metal is trading at $1,890, which...
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 have given up gains notched during the London session, as the New York session kicks in. News of...
The gold price was 0.25% higher on Monday but last week's bearish move still brings the risk of further downside ahead. Gold crashed by $100 last Monday after news of a potential virus vaccination emerged.
One of the most interesting things happens with the gold price – it is being dumped as safe-haven. However, while...
A break below the horizontal line puts further pressure toward $1,650 for the price of gold.
Gold saw a small bounce on Tuesday after Monday's collapse on news of a potential vaccine. The price reversed again on Wednesday to test the key $1863 support and the price action here will define the next path forward for the precious metal.
Gold price took a beat so far this week as investors knocked it down from $1,970. In a matter of...
Gold prices crashed by $100 on Monday as a potential vaccine for coronavirus emerged. In a statement to markets US drugmaker Pfizer said its vaccine had a 90% success rate in a Phase 3 trial of over 40,000 patients.
Gold price on the XAUUSD chart is heading for its worst daily drop in months, after the report by Pfizer/BioNTech...
Gold bounced from a double bottom and threatens to move to $2,000 next.