Gold prices steadily traded lower yesterday after surging to their 6-year highs at $1,587.83. XAUUSD finished the New York session...
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.
Final US Markit Services PMI rose to 52.8 vs. the 52.2 projected and previous figure. The US Dollar strengthened and...
Gold shines the brightest when investor sentiment is bleak. Case in point is the precious metal’s recent price action, as...
This morning’s Asian market session was more volatile than the usual. Crude oil prices rallied to their 8-month highs while...
Gold prices extended their rally for a third consecutive day yesterday. XAUUSD steadily traded to $1,531.05 where it peaked for...
Gold prices were initially off to a bullish start on the last day of trading in 2019. XAUUSD reached new...
Despite generally positive data from the US, gold prices continued to trade higher in yesterday’s trading. XAUUSD opened at $1,510.92...
Gold prices did not see much movement in Friday’s trading. In fact, XAUUSD traded within a tight, 80-cent range after...
Gold prices rallied to their multi-week highs yesterday’s trading as investors square their positions on the US dollar before 2019...
Gold prices rallied in yesterday’s trading following worse-than-expected US data. XAUUSD opened at $1,478.02 and traded higher to its highest...