The gold price holds close to seven-year highs while yesterday crossed the high from January after the U.S. killed a...
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 jumped higher above the 1600 mark as the negative impact from the coronavirus outbreak starts to bite....
Gold prices just reached a new February high, and that might be the start of further gains in the days...
Gold price adding 0.51% at 1588.53 as investors shift to safe-haven assets after the revenue warning from Apple (AAPL). The...
Gold price started the week 0.15% lower at 1581.03 as the precious metal consolidates close to two-week highs. Investors are...
Gold price (XAUUSD) is eyeing 1600 as bulls appear to have taken control of the market on St.Valentine’s Friday trading....
Gold price was already off to a bullish start in yesterday’s trading amid coronavirus concerns but traded even higher on...
Just when investors thought the coronavirus outbreak was slowing down, China reported 14,480 new cases. Consequently, risk aversion dominated market...
Gold price fell in yesterday’s trading as Federal Reserve Chairman Jerome Powell expressed his optimism for the US economy amid...
Gold price finished yesterday’s trading virtually unchanged without any major economic releases and significant developments on the coronavirus outbreak. XAUUSD...