Financial news and actionable analysis
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 prices are up today as fears of a no-deal Brexit have re-emerged. This is all due to the latest proposal by the UK government to enact a law that could violate the Brexit Withdrawal Agreement. The new Internal Markets Bill seeks to allow the Northern Ireland secretary to take...
Gold prices are ticking lower after the August Non-Farm Payrolls data showed a drop in the unemployment rate from 10.2% to 8.4%. This was a larger drop than the markets had predicted, as consensus numbers showed that most analysts were expecting a drop to 9.8%. Employment change was very close […]
Gold price is lower on the day after some belated USD strength following the announcement of a new inflation targeting strategy by the FOMC Chair, Jerome Powell. In his prepared statement which was delivered at a virtual session of the annual Jackson Hole Symposium, FOMC Chairman Jerome Powell announced a new […]
Gold price is edging higher on the day as bulls were able to initiate a bounce off critical support levels on the XAUUSD chart. However, the bounce was not convincing, as price action for the day still trades below highs seen earlier in the week. This lack of a follow-through […]
Gold price on the XAUUSD chart continues to face an uphill battle as the US Dollar gained traction overnight. Speculators are starting to take profits on US Dollar short positions. The Jackson Hole symposium comes up this week, and this gathering of economists, banks and central bankers is expected to […]
Intraday recovery by the greenback after upbeat Existing Home Sales and Markit Flash Manufacturing and Services PMI data have served as the catalysts for the drop in gold prices for the day. After last week’s substantial correction following the surge in gold prices the week before, gold prices look as […]
After reaching all-time highs above the $2,000 early in the month, the gold price fell $200. The correction, seen by many as a healthy one, proved to be just an opportunity to go long again. But on its way down, gold failed to retest a broken triangle’s trendline. Moreover, it […]
The bullish bias on gold price remained intact on Tuesday, as investors continue to stay cautious ahead of the release of the FOMC minutes tomorrow. Gold price for spot gold contracts is trading 1.75% higher at 2008.81 and remains on course for a second bullish day for the week. The […]
