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%.
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 recent sell-off in gold price has pushed XAUUSD below support at the $1,700.00 handle. Technicals suggest that it has more downside potential.
The gold price trading higher for the second consecutive session despite the risk appetite has returned to markets and stock...
Gold price is trading higher today as investors brace for the FOMC rate decision. With no changes to interest rates expected, what should we watch out for?
Gold price is trading sharply lower after China reported a drop in gold purchases. In fact, there's a potential double top in the making.
The gold price started on positive foot Monday keeping the previous week positive momentum. Gold ended 2.6% higher the previous week amid the coronavirus outbreak.
Gold price is giving up some of its gains from yesterday as investors take profit on their long positions ahead of the weekend. Consequently, a potential setup for a sell has materialized on the short-term timeframes of XAUUSD.
Gold price relatively unchanged in the Asian session as investors looked ahead to critical data from Europe and the United States.
Price action on XAUUSD has been muted as of late. However, technicals suggest that gold price could soon breakout. The question is, to which direction?
Gold price is trading slightly lower early in today’s Asian session as the dollar gains ground on news of Kim Jong Un’s bad health. XAUUSD is currently trading around $1,689.00, down from where it opened at $1,694.16.