Asian stocks are trading slightly lower on Thursday ahead of Jerome Powell speech in Jackson Hole. Asian indices hover close to six-month highs as the rally in Wall Street continues
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 saw a strong rally from uptrend support and the move sets the precious metal up for further gains. The...
Gold price is edging higher on the day as bulls were able to initiate a bounce off critical support levels...
Gold price hold the headlines during the COVID-19 pandemic. It reached above the $2,000 level, a new all-time high for...
Asian indices retreat today as investors book some profits after the recent strong rally that drove Asian stocks close to two-year highs.
The gold price was heading lower for a third-straight day and the precious metal could come under further pressure from the FED's Jackson Hole symposium.
Asian stocks trading mostly higher on Tuesday as the optimism from the coronavirus vaccine spreads to stock markets around the globe.
Gold price on the XAUUSD chart continues to face an uphill battle as the US Dollar gained traction overnight. Speculators...
Gold price continues to improve its technical picture today as it recovers all of Friday’s losses. The precious metal is trying to stabilize after the sharp correction
Asian stocks snapped two days of losses trading higher on Monday, on hopes of a coronavirus treatment. The FDA approved the use of blood plasma