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.
Latest XAUUSD News
Gold prices just reached a new February high, and that might be the start of further gains in the days ahead. Gold prices, XAUUSD, have been inching higher over the last few weeks on the coronavirus fears, and yesterday, Apple (AAPL) issues a profit warning, as they think they will [...]
Gold price was already off to a bullish start in yesterday’s trading amid coronavirus concerns but traded even higher on disappointing US CPI. XAUUSD was consolidating around $1,575.00 ahead of the report then rallied to $1,578.05 following the release. By the end of the New York session, it had settled [...]
Just when investors thought the coronavirus outbreak was slowing down, China reported 14,480 new cases. Consequently, risk aversion dominated market sentiment and highlighted gold’s safe haven reputation. Gold price is currently trading $7.5 from its opening price at $1,573.13. According to government reports, this record-number in new cases is for [...]
Gold price fell in yesterday’s trading as Federal Reserve Chairman Jerome Powell expressed his optimism for the US economy amid the coronavirus outbreak. After opening at $1,571.64, XAUUSD traded higher to an intraday high at $1,573.86 before sharply selling off during the New York session. By the end of the [...]
Gold price finished yesterday’s trading virtually unchanged without any major economic releases and significant developments on the coronavirus outbreak. XAUUSD initially traded higher to an intraday high at $1,576.82 before falling during the New York session to close at $1,571.86. It was only 54 cents above where it opened for [...]
Gold price rose in Friday’s trading following the mixed labor figures from the US. XAUUSD traded higher after the release of the NFP report and bottoming out at $1,560.44. By the end of the New York session, gold price had settled $3.71 higher from its opening price at $1,569.96. Labor [...]
Gold price is trading higher ahead of the highly-anticipated NFP report from the US for January. XAUUSD steadily traded higher yesterday from an intraday low of $1,552.34 to $1,568.11. By the end of the New York session, it settled $14.08 higher at $1,566.42. XAUUSD was under selling pressure for the [...]
After yesterday’s drop, gold price continues to be under selling pressure today on news coming out of China. Gold price dropped yesterday following news that breakthroughs have been made in the coronavirus vaccine. XAUUSD fell from an intraday high of $1,562.12 to $1,547.28 after Sky news reported that a vaccine [...]
Gold price dropped more than $8 in the last hour of trading as news of a breakthrough in the coronavirus vaccine hit headlines. XAUUSD initially hit an intraday high at $1,562.30 and is now trading at $1554.50. Gold price chart, 15-minute Read our Best Trading Ideas for 2020. According to [...]
What Pushed Gold Price Lower? The recent rally on gold price has mostly been driven by fears around the coronavirus outbreak. However, could the recent price action on XAUUSD suggest that market participants are no longer worried about the disease? PBoC Injects Liquidity Amid Rising Coronavirus Cases News about the [...]
