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.
As predicted in the preview of the NFP using gold price action, disappointing numbers have meant that gold price (XAU/USD) has shot up to 3-month highs as the greenback faces some heavy selling post-NFP. Not only was the last number downgraded from 916K to 770K, but the actual figure of […]
Gold price (XAU/USD) has gained nearly 1.62% as it surges above the $1800 price level for the first time since 23 February. The huge gain on the day comes on the back of lower US long-term bond yields, which have receded for the 5th day in a row. Additional selling […]
Gold prices asserted their upside move late in the New York session, as Reuters quoted new York Federal Reserve President John Williams as saying that the present conditions and data are not enough to cause the Fed to change its monetary stance. However, he reiterated that the US economy would […]
Gold price (XAU/USD) dropped to 1-week lows ahead of the FOMC decision, as then sentiment of the day leaned towards a demand for the greenback. Several factors favoured a slight uptick in USD strength: A rise in 10-year bond yields by as much as 0.78% on the day. Expectations that […]
A failure to break the $1,800 per ounce level saw the spot Gold price succumb to selling pressure ahead of next week’s much anticipated Federal Reserve Meeting. All eyes were on the $1,800 level last week. Twice Gold had attempted to punch through, and twice it had failed. Friday saw […]
Spot gold price (XAU/USD) was unable to hold on to the $1800 psychological resistance on Friday after bond yields rebounded and added strength to the greenback. The yellow metal lost traction and found itself on offer after the 10-year Treasury Note added 1.16% on Friday. Gold price hit a daily […]
Gold price (XAU/USD) continues to gain momentum on the day, as weakness in the greenback continues to be the dominant fundamental player in the pair. Commerzbank and HSBC are already predicting higher gold prices, with the latter indicating that there would be an easing of US Treasury yields and the […]
Gold price (XAU/USD continues to amass gains and appears to be on its way to recovery above the $1800 mark, despite a retracement on the day that was caused by profit-taking. The slight pullback in gold occurred as falling bond yields gained a little, with the weaker US Dollar also […]
Gold price surged to 7-week highs as the greenback continues to struggle under the weight of dovish comments from the Fed’s board members. Despite a slight rebound in the US bond yields, the greenback found no joy amid the continued risk-on sentiment that has pervaded the markets for most of […]
Gold price (XAU/USD) surged 1.78% on the day after bond yields turned south following mixed US data. The yellow metal extended its rally with a strong upside move that took it beyond the $1760 price level. This move followed broad-based weakness on the US Dollar after several data sets failed […]