XAU/USD Exchange rate


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Editors’ Picks

GBP/USD hits three-month highs amid Brexit hopes

GBP/USD is rising toward 1.3450, the highest since September, shrugging off Brexit concerns. France may reportedly veto a deal if it sees too many compromises from the EU. The final US Services PMI, vaccine developments and US data are all awaited. 

GBP/USD News

EUR/USD resumes advance, reaches fresh highs

The EUR/USD pair is firmly advancing beyond 1.2100, trading at levels that were last seen in April 2018. The dollar is under pressure amid hopes for US fiscal stimulus and an upcoming vaccine. Investors are shrugging off Germany's extended restrictions.

EUR/USD News

XAU/USD clings to gains near $1840 area, over one-week tops

Gold maintained its bid tone through the mid-European session and was last seen trading near the top end of its daily range, or over one-week highs around the $1840 region.

Gold news

Crypto market relentlessly fighting for new yearly highs

Bitcoin is leading the recovery in the cryptocurrency market after reclaiming the position above $19,000. Ethereum has managed to bring down the critical hurdle at $600 while Ripple is holding slightly above $0.62.

Read more

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XAU/USD, GOLD

In the Forex market, gold is a form of currency. The internationally accepted code for gold is XAU which is a symbol used under the ISO 4217 currency standard to denote one troy ounce of gold. It is known to be a “safe-haven” asset, expected to increase its value in times of volatility and economic uncertainty.

The XAU/USD pair tells the trader how many US Dollar (the quote currency) are needed to purchase one Gold Ounce (the base currency). The United States is the country that holds the biggest resources of gold in the world.


HISTORIC HIGHS AND LOWS FOR XAU/USD

  • All-time records: Max: 1920.80 on 06/09/2011 - Min: 35.32 on 27/07/1970
  • Last 5 years: Max: 1,645.38 on 21/02/2020 - Min: 1046.23 on 03/12/2015

* Data as of February 2020


ASSETS THAT INFLUENCE XAU/USD THE MOST

The XAU/USD can also be impacted by other elements such as the following:

  • Currencies: USD and EUR.
  • Commodities: Silver, the other most important precious metal commodity together with Gold.
  • Bonds: Bund (the German word for "bond", a debt security issued by Germany's federal government) and T-Note (Treasury Note, a marketable U.S. government debt security).
  • Indices: Hui (AMEX Gold BUGS), XAU (Philadelphia Gold and Silver Sector Index) and GDM (NYSE Arca Gold Miners Index) The most important stock exchanges are the New York Mercantile Exchange (COMEX), the Chicago Board of Trade, the Euronext/LIFFE, the London Bullion Market, the Tokyo Commodity Exchange, the Bolsa der Mercadorias e Futuros and the Korea Futures Exchange.

ORGANIZATIONS THAT INFLUENCE XAU/USD THE MOST

  • WGC (World Gold Council), the market development organisation for the gold industry.
  • LBMA, London Bullion Market Association, whose members conduct trading in this wholesale over-the-counter market for the trading of gold and silver. It is loosely overseen by the Bank of England.
  • COMEX (Commodity Exchange Inc.), the primary market for trading metals.
  • Zurich Gold Pool founded in 1968 by the largest banks in Switzerland after the collapse of the London Gold Pool.
  • CGSE, the Chinese Gold & Silver Exchange Society is an organisation of gold trading firms in Hong Kong who are participants of the Chinese Gold and Silver Exchange.

PEOPLE THAT INFLUENCE XAU/USD THE MOST

  • David Harquail, the World Gold Council’s Chairman and the CEO of Franco-Nevada Corporation.
  • Jerome Powell, the 16th Chair of the Federal Reserve.
  • Xi Jinping, President of the People's Republic of China and General Secretary of the Communist Party of China.


ECONOMIC DATA THAT INFLUENCE XAU/USD THE MOST

The main indicators that traders should watch to understand where gold is standing are:

  • Demand vs Supply for the commodity
  • Struggling markets or context of currency devaluation: gold is known to be a haven for investors in times of economic uncertainty or when any country sees its currency devaluing.
  • Practical applications: technology invents, jewellery use, etc.