Wuhan China on Lockdown Gold price traded higher yesterday as concerns of the coronavirus continued to weigh down on market...
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 initially traded higher yesterday as the outbreak of the new coronavirus shook market investors. However, XAUUSD quickly gave...
Blasts in Baghdad’s Green Zone Drive Gold Price Higher Gold price surged in today’s Asian session as market sentiment is...
Inverse Head and Shoulders Spotted on XAUUSD After gold price skyrocketed in the last few trading days of 2019, XAUUSD...
Gold price started the trading session 0.20% higher at 1555 as the precious metal consolidation phase continues. Risky assets were...
Bullish Confirmation on the Daily Chart of Gold Since tensions in the Middle East died down, it has been a...
Hammer at Previous Highs and Fib Level Gold prices initially traded lower early in yesterday’s Asian trading session. XAUUSD dropped...
US and China Set to Sign Phase One Deal Gold prices continued to slide in yesterday’s trading as risk appetite...
Gold prices benefitted from the worse-than-expected NFP data from the US on Friday. XAUUSD bottomed at $1,545.63 during the Asian...
Two minutes after the release of the latest US NFP report, gold prices were up five dollars per ounce, as...