The gold price continues lower after Friday’s sharp decline as U.S. dollar gains momentum while investors sentiment has improved after the plan by President Trump to reopen the economy.
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 headed lower as volatility dropped in overnight trading. This happened after it emerged that a drug manufactured by...
The gold price rebound today after the sharp correction from seven-year highs amid USD strength. Dismal economic data from the USA shifted to the U.S. dollar as a safe-haven asset.
Gold price rose in overnight trading as investors reacted to the overall dollar weakness and the gloomy outlook presented by the IMF.
With gold price rallying to its 7-year highs, you may find it difficult to find an entry amid the strong uptrend. USDCHF could be the perfect alternative.
Gold price rallied to its highest level since 2012 as investors rushed to safety ahead of the corporate earnings season....
Gold price trades higher today as the coronavirus fears return after USA and U.K. reported a record number of deaths...
Gold price seesaws today after yesterday’s losses amid the decrease in new coronavirus cases and the death rates in Europe. New stimulus measures by the U.S. administration
Gold price inched downwards as an uneasy optimism has returned to the market. This is evidenced by the rally we...
Gold price trades at the daily highs as the rebound from $1651 continues. Weak fundamental data from the manufacturing and services sector from the USA and Europe shift investors attention