Gold price rose in Friday’s trading following the mixed labor figures from the US. XAUUSD traded higher after the release...
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 is trading higher ahead of the highly-anticipated NFP report from the US for January. XAUUSD steadily traded higher...
After yesterday’s drop, gold price continues to be under selling pressure today on news coming out of China. Gold price...
Gold price dropped more than $8 in the last hour of trading as news of a breakthrough in the coronavirus...
What Pushed Gold Price Lower? The recent rally on gold price has mostly been driven by fears around the coronavirus...
Gold price retreat from two-week highs today as China central bank step in to support the battered Chinese economy. The...
Gold price traded lower yesterday against the US dollar following the preliminary US GDP report. XAUUSD initially trended higher to...
Gold price benefitted from yesterday’s FOMC statement. XAUUSD was initially consolidating between $1,569.00 to $1,572.00 prior to the release. However,...
XAUUSD Drops on Positive Consumer Confidence Report For the first time in five trading days, gold price finished lower in...
The FOMC announces its interest rate decision tomorrow at 6 pm GMT. After three consecutive rate cuts which ended in...