Gold price recovers intraday to 9-year highs. Sign up to find out why this occurred.
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
While gold price is currently unchanged from its opening price, technicals suggest that XAUUSD could soon rally to its 2011 highs.
Gold price on the XAUUSD chart sank to intraday lows of $1760 after today’s upbeat Non-Farm Payrolls (NFP) data. The NFP employment data released by the US Bureau of Labour Statistics indicates that the US economy added 4800K jobs in June 2020, which was an increase over the 2699K job […]
Yesterday, gold price rally to its highest we have seen XAUUSD trade at since 2012. However, the precious metal quickly gave up its gains.
Gold price action on the XAUUSD daily chart is extending its intraday decline towards the 1762 support after upbeat US ISM Manufacturing PMI data helped boost sentiment on the greenback within the last hour.The US Dollar had been punished by safe-haven seekers on the XAUUSD, with the gold price hitting […]
Gold price spikes in the last two hours on the XAUUSD chart, as risk aversion mounts. Sign up to find out more.
Despite risk aversion dominating market sentiment, gold price which is know for its safe haven status, is struggling to gain ground against the US dollar.
Like other currencies, gold price benefitted from the dollar weakness brought about by the dovish FOMC statement yesterday. Can it extend its gains?
Gold price is testing a confluence of resistance ahead of the FOMC meeting due tomorrow. Will Fed Reserve Chairman Powell show optimism for the US economy?