Gold price retreat today after yesterday’s strong gains, as investors shift to safe-haven assets after disastrous jobless claims report from...
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 finds stiff resistance at the 50-day moving average for the second day. Investors shift from gold to USD and back to gold as safe-haven assets
Gold price started higher on Tuesday after yesterday’s sharp sell-off. Gold price dropped yesterday from $1627 down to $1575 after stronger than expected manufacturing
Gold price declined by more than 1% as the dollar index rose by more than 50 basis points. The rise...
The coronavirus is shaking up the world. Read our free Q2 Global Market Outlook to know what may happen with EURUSD, Gold prices, Crude oil, Bitcoin, and S&P 500.
Here are are the topics covered in the second market outlook for the year.
- EURUSD: Soars on Coronavirus Panic
- USDJPY: Roller-Coaster Ride Will Not End Anytime Soon
- AUDUSD: Under Pressure on World Lockdown
- GBPUSD: Trades Lower as Coronavirus Could Delay UK-EU Trade Talks
- Stock markets tumble as investors prepare for the worst
- Gold prices may resume uptrend as QE is expanded aggressively
- Crude oil prices could rise on high demand in q2 and coronavirus risk abating
- Cryptocurrencies drop as the safe haven notion is crushed
Gold price has been trading within a $49 range since last week on news of improvements on the coronavirus pandemic....
Gold price started lower the Monday session after the precious metal registered one of the best weeks with gains over 12% as investors fears about the
Safe-haven demand is dominating the markets this Friday, allowing gold prices to attain intraday highs at 1634.09. Demand for safe-haven...
Gold price fell slightly today as traders took profits from its best week since the 2008/9 financial crisis. In the past five days, the price of gold has surged by more than 10% and passed the important resistance level of $1,700.
While volatility on gold price has been limited in the last few trading hours, technicals on XAUUSD suggest that buyers...