Gold price action is tilting towards the upside as the USD weakens from lower-than-expected CPI figures.
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.
The gold price trades higher on fears of a second wave of coronavirus infections after five new cases reported from...
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?
Gold price remained in a holding pattern as investors waited for the US nonfarm payrolls data that will be released...
The Non-Farm Payrolls (NFP) report comes up tomorrow. Follow the preview and market response by signing up here.
Gold price traded lower yesterday despite the ADP employment report showing a worrying drop in jobs last April. Why did XAUUSD trade lower?
Gold price is holding close to a seven-year high as hedge funds buy more in reaction to the current quantitative easing policies by central banks.
Gold price is off to a weak start in today’s trading as the US-China tensions fade into the backdrop. XAUUSD...
The gold price inched higher on Monday as risk-off sentiment returns amid the rising tensions between U.S. and China amid threats from President Trump that might impose a fresh round of tariffs on retaliation for the spread of COVID-19 outbreak
Silver price has lagged gold that of gold this year. The price of silver has declined by more than 16% while that of gold has soared by more than 12%.