Gold prices keep shooting higher despite good NFP numbers that should have favoured the USD. Sign up to find out why.
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 retreated today ahead of the US nonfarm payroll numbers. The metal is trading at $1,947, which is...
How will gold prices react to tomorrow's NFP numbers? Sign up to find out how.
Gold price hovers more or less around the same levels for over a month now. Both bulls and bears fight...
The gold price has bounced higher in the last two sessions as the U.S. gets set for what will likely be the most controversial election in history.
The moment of truth for the gold price has come. For the third time in a row, it reaches horizontal...
Gold prices extend the decline, but how far can this go? Sign up to find out.
Gold price feels some heat as we get closer to Election Day in the United States. The stock market in...
Gold price has recovered slightly from its intraday lows at 1891.54. Presently, there is a lot of risk on both...
Gold price fell below the $1,900, unable to keep a bullish bias. One week ahead of the all-important American elections,...