The USD’s comeback after the Fed Minutes translated in a gold price rejection at the $2,000 level. One of the...
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.
Ripple price unable to push higher and is in danger of forming a double top at 0.32. The rejection so...
Gold price (XAUUSD) is bouncing back, a day after it dropped by more than 3%. The decline yesterday happened after...
After reaching all-time highs above the $2,000 early in the month, the gold price fell $200. The correction, seen by...
The bullish bias on gold price remained intact on Tuesday, as investors continue to stay cautious ahead of the release...
The pain in the Dollar index is close to unbearable to bulls. Ever since the Fed opened its swap lines...
Gold price (XAUUSD) is in its second consecutive days in the green today. The metal is up by more than...
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Asian stocks turned higher ahead of the closing as the failure in negotiations between the Democrats and Republicans on a new stimulus package that will support the economy
Commodities had one of their best quarters in recent history. Gold price surged to record highs, blasting through the $2,000...