Gold price saw very little action in yesterday’s trading as market participants get a feel for developments surrounding the coronavirus....
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.
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The gold price retreats today to weekly lows despite the broad risk-off sentiment. Gold is in profit-taking mode ahead of...
Yesterday was a relatively quiet day for gold price. Despite rising numbers of coronavirus cases, upside movement on XAUUSD was...
The gold price rebounds today after yesterday’s profit-taking after making fresh nine-year highs. Investors are moving to safe-haven assets amid...
After trading to its 7-year highs yesterday, gold price gave up most of its gains and closed as a shooting...
Contrary to higher-yielding assets like stocks and risk currencies like the Aussie and Kiwi, gold price is enjoying a bullish...
The gold price breaks higher for the fifth consecutive trading session as investors continue to run for cover in the...