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.
The gold price sits in a tight range ever since it broke above the $2,000 level. The break to a new all-time high marked not only a record price, but it drew investors’ attention to the yellow metal and what it stands for. Gold has long been viewed as an alternative investment. It protects a … Read more
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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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Gold prices are ticking lower after the August Non-Farm Payrolls data showed a drop in the unemployment rate from 10.2% to 8.4%. This was a larger drop than the markets had predicted, as consensus numbers showed that most analysts were expecting a drop to 9.8%. Employment change was very close to the consensus number of … Read more
Gold price (XAUUSD) is up slightly today as traders reflect on the sharp decline that happened today. Gold is up by 0.35% and is trading at $1,935, which is a bit higher than yesterday’s low of $1,921. At the same time, silver and copper are up by 0.22% and 1.12% respectively. Gold rises ahead of … Read more
The gold price is retreating for a third day as the U.S. dollar continues its recent bounce, but the precious metal is at risk of a larger correction. Gold had rallied last week following comments from Federal Reserve Chairman Jay Powell, in which he reiterated the bank’s commitment to the 2% inflation target. His comments … Read more
Gold price (XAUUSD) is under pressure today ahead of the ADP employment numbers. The yellow metal is down by 0.30%, a day after it moved close to $2,000. It is trading at $1,966, which is slightly higher than the day’s low of $1,955. Gold price is falling as some investors start to place a bet … Read more
Gold price continues higher for the third consecutive session reaching the highest level in almost two weeks. A weaker dollar is the main force that drives the gold price
Gold price (XAGUSD) is down by about 0.25% today as traders as traders continue to reflect on the statement by Jerome Powell last week. The metal is trading at $1,960, which is below this month’s high of $2,075. Gold seems to be the only outlier in the red today. Copper, platinum, and silver prices are … Read more
Gold has soared 1.53% on the day as the market reacts to Federal Reserve Chairman Jerome Powell’s comments from the Jackson Hole economic event. Powell reiterated the central bank’s commitment to the dual mandate of full employment and market price stability, but the real driver for gold was his comments that they would continue to … Read more
Gold price is lower on the day after some belated USD strength following the announcement of a new inflation targeting strategy by the FOMC Chair, Jerome Powell. In his prepared statement which was delivered at a virtual session of the annual Jackson Hole Symposium, FOMC Chairman Jerome Powell announced a new inflation targeting strategy which will … Read more
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