Gold price continues the consolidation phase for the fifth consecutive session amid mixed signals from the coronavirus front and 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.
Gold price is down by about 0.40% today. As of this writing, the price is trading at $1,723, which is...
Gold price seesaws today looking for direction as mixed signals from the coronavirus front continue to weigh on markets. The...
Gold price is down by more than 60 basis points today mostly because of second wave fears. Other precious metals...
Despite risk aversion dominating market sentiment, gold price which is know for its safe haven status, is struggling to gain ground against the US dollar.
Like other currencies, gold price benefitted from the dollar weakness brought about by the dovish FOMC statement yesterday. Can it extend its gains?
The FOMC has left the interest rates unchanged in an expected move, and also released its economic projections for 2020...
Gold price continues higher for the third consecutive session as the recent rally in risky assets questions ahead of the Fed policy meeting and decision later today. The correction yesterday in equity markets
Gold price is testing a confluence of resistance ahead of the FOMC meeting due tomorrow. Will Fed Reserve Chairman Powell show optimism for the US economy?
Gold price recovers some of Friday’s sharp losses after the strong employment data from USA. The U.S. unemployment rate dropped to 13.3% while the forecast were looking for an increase to 20%.