The gold price had a strong comeback from its move below the $1,700 mark. It formed a double bottom there,...
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 is trading lower a day ahead of the FOMC decision as traders start to align their positions to...
Gold price recouped some of its gains from Friday. Could this mean that XAUUSD is headed lower or is this nothing more than just a pullback?
Despite risk aversion dominating market sentiment, gold price is unchanged. XAUUSD is trading around its open price for the day...
The gold price was lower by around $60 into the weekend after the U.S. dollar shook off its recent weakness to stage a four-day rally. Strong ISM Manufacturing data started the greenback's bounce on Wednesday and this was followed by NFP job numbers which...
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Today, not much is happening with the yellow metal, with gold prices (XAUUSD) trading within a consolidation range that extends...
Gold price continues the consolidation phase for the fifth consecutive session amid mixed signals from the coronavirus front and the...
Gold price (XAU/USD) is seeing some limited upside action as the US Non-Farm Payrolls showed that the US public sector...
Gold price fell below the $1,900, unable to keep a bullish bias. One week ahead of the all-important American elections,...
Gold price consolidates just below the $2,000 and looks for direction. The market looks for direction from the Fed, as the USD is key when it comes to the next move.