Gold price may have rebounded slightly this Thursday, but it remains under pressure as it continues to get squeezed by rising US bond yields. Today’s speech by Jerome Powell remains the fundamental triggers of note for the XAU/USD pair. Gold price has edged slightly higher in what has been a […]
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
Spot gold prices (XAU/USD) continue to drop after US 10-year bond yields began to recover from recent declines. New multi-month lows were seen in Tuesday’s Asian session, with the XAU/USD hitting an intraday low of 1706.97. The key to gold price action for the week could lie with the key […]
Gold price on the XAU/USD pair failed to recapture ground above the $1800 psychological resistance, dropping nearly 1% in the process. Gold price activity now has a bias for downside targets as it continues to remain pressurized by the market fundamentals. Broad-based selling on the greenback failed to rescue the […]
Gold price (XAU/USD) has had another bearish session, selling off towards the $1789.49 support line. This comes as US long-term bond yields have another resurgent session. However, the price has bounced off this support line, allowing the yellow metal to claw back some of the earlier losses of the day. […]
Gold prices on the XAU/USD chart came under severe pressure this Thursday, as bond yields resumed the upside trajectory following yesterday’s pullback. The bounce in the US bond yields allowed the greenback to see some demand, with real bond yields on the 10-year US bond presently up by 0.8% as […]
Gold prices have resumed the downward move after US bond yields spiked more than 4% on Tuesday. The spike in bond yields comes as markets start to drive money into the bond markets to take advantage of the increases in bond yields, and away from the non-yielding gold asset. Presently, the charts […]
The US Dollar suffered a sharp reversal late in the New York session, triggering a rally in the XAU/USD pair that took it off intraday lows. Gold price started the day on the back foot, quickly printing lows at the 1810.66 price level. This move hacked out an intraday violation […]
Gold prices have continued their amazing recovery and look set to post a 3rd straight day of gains after renewed talks of stimulus hit the markets. The recovery from 2-month lows follows renewed optimism about the passage of the $1.9trillion stimulus by the US Congress. Stimulus hopes were renewed by […]
Gold price has staged a major move to the south after it completed the breakdown of the small ascending channel on the daily chart. Thursday’s 0.83% move lower accompanies further strengthening of the greenback across a basket of assets, which was showcased as a 0.17% rise in the US Dollar Index. […]
Gold price action on the XAU/USD has seen a pushback of about 0.64%, even as the US Dollar extended gains that it notched up late in the New York session on Monday. The greenback gained broadly as investors sought safe havens, following the asset war between retail and institutional traders […]