Gold price has gone nowhere this week as investors wait for the upcoming American consumer inflation data. It is trading...
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 had a difficult performance in May as the Federal Reserve embraced a highly hawkish tone and as inflation...
Gold price has done relatively well recently as the US dollar index has started retreating. The precious metal is trading...
Today’s gold price forecast sees the XAU/USD pair facing additional downside pressure. This downward pull on gold follows yesterday’s comments...
Gold price has been in a strong sell-off in the past few days. It dropped to a low of $1,838,...
Gold prices fell on Tuesday to 10-week lows as investors took positions to reflect the expectations of more aggressive tightening...
Gold price has fallen relentlessly in the past few days as king dollar reigns supreme. It has crashed to a...
The price of gold, represented by the XAU/USD pair, is down nearly 1% this Thursday. The price decline comes as...
Gold price is holding steady even as the Fed plans for a more aggressive monetary policy. The metal is trading...
The gold price forecast for the week will be largely determined by the outcome of the Non-Farm Payrolls report, scheduled...