In this section, you will find our latest XAUUSD news and a live XAUDUSD chart for technical analysis.
What is XAU/USD?
XAUUSD is the financial symbol for gold vs. the US dollar. Specifically, it answers the question of, “How much is one ounce of gold in US dollars?”
Gold, as a commodity, can be dated as far back as 2,500 years ago. It is historically regarded as a precious metal that is able to maintain and even increase its value despite wars and natural disasters. For this reason, gold is considered a safe-haven asset.
Trading gold has become increasingly popular in the past few years. The financial crisis of 2008 and the eurozone debt crisis in 2010 caused a global decline in equities markets and forced investors to re-think diversifying their portfolios to include safe-haven assets like gold.
Most forex brokers nowadays offer gold to be traded against other currencies like the euro, Swiss franc, and the Australian dollar. XAUUSD is still the most popular pair to trade among forex traders because the commodity was traditionally priced in US dollars and also because the dollar is the most widely-used currency in the world.
With this said and because it does not have its own supporting economy, gold tends to be sensitive to the movements of the US dollar. The two have been known to have an inversely-proportional relationship that when gold is up, the dollar tends to be down, and vice versa.
Other factors that affect the price of gold will be supply and demand and more popularly, market sentiment. XAUUSD tends to rally in times of uncertainty or risk aversion and fall when risk appetite encourages investors to seek higher-yielding assets.
Gold price maintained the bullish momentum of the day and closed higher after the FOMC reiterated it was not in a hurry to taper the QE program. The US Dollar edged lower on the rate statement and subsequent speech by Jerome Powell, who heads the FOMC. FOMC Chief Powell maintained […]
Gold price on the XAU/USD chart is trading lower today as demand for the greenback sends the pair sharply lower at the start of the session. Gold price has recouped most of these losses, but downside bias remains as investors seek the comfort of the safe-haven dollar on rising coronavirus […]
Gold prices took a further sprint to the north after the US Dollar fell on Wednesday, following comments by Fed Reserve Chairman Jerome Powell said that the economic recovery was “still a ways off” from levels required for tapering. The testimony by the Fed Chair followed another hotter-than-expected consumer inflation […]
The rally in gold prices continued on Thursday, following the US dollar slump and lower long-term bond yields. These events came on the back of the dovish FOMC minutes released on Wednesday, which showed several policymakers indicating that the conditions for tapering had not been fully satisfied. This allowed the […]
Gold price (XAU/USD) is seeing some limited upside action as the US Non-Farm Payrolls showed that the US public sector added 850,000 jobs. This figure surpassed the market expectation of 725,000 job additions and trumped the previous month’s hiring of 583,000 jobs (an upward revision). However, the unemployment rate ticked […]
The Gold price has lost more than 8% since the start of the month. Furthermore, tomorrow’s employment data could spell even more touble for XAUUSD. Gold is last trading at $1,776, up $6.12 (+0.35%). Jerome Powell’s hawkish tone following this months FOMC meeting proved the catalyst for Gold’s recent plunge. […]
Gold price rose modestly on Friday after a key Fed inflation gauge dropped by 2 points, tempering bets that the Fed could engage in early tapering/rate increases. The FOMC statement of 16 June had contained language that the markets deemed hawkish, sending gold prices plummeting. This week, the FOMC Chair […]
Gold price is trading lower this Tuesday, down by 0.15% as of writing as the markets get ready for another potential market mover. The US Federal Reserve’s Chairman Jerome Powell is due to testify before the US House Select Subcommittee on the Coronavirus Crisis. Ahead of his testimony, several members […]
The Gold price collapsed this week under the threat of higher interest rates. However, things could get much worse if these two charts are to be believed. XAU/USD crashed -6.05% last week. Dropping more than $100 in one-way traffic amid a wave of long liquidation. Gold investors have rode the […]
Gold price tanked shortly after the FOMC decision, as the US Federal Reserve appears to have assumed a more hawkish tone concerning inflation and the QE program. The latest FOMC projections reveal that three more policymakers see a lift-off of the interest rates from zero in 2022, bringing the total […]
