XAU/USD Exchange rate


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Editors’ Picks

EUR/USD recovers toward 1.1350 on modest dollar weakness

EUR/USD edged higher in the early American session and managed to erase its daily losses. Ahead of Fed Chair Powell's testimony, the pair is closing in on 1.1350. Earlier in the session, the data from the US showed that employment in the private sector rose by 534,000 in April, surpassing the market expectation of 525,000. 

EUR/USD News

GBP/USD extends sideways grind around 1.3300 ahead of Powell's testimony

GBP/USD continues to move sideways around the 1.3300 handle on Wednesday after the data from the US failed to trigger a significant market reaction. The ADP Employment Change arrived at +534K in November, compared to the market expectation of 525,000. FOMC Chairman Powell will testify at 1500 GMT.

GBP/USD News

Gold clings to recovery gains near $1,790

Gold gained traction after dropping below $1,780 in the early European session and climbed toward $1,790. Ahead of FOMC Chairman, the 10-year US Treasury bond yield is up more than 1% on the day, limiting gold's upside for the time being.

Gold News

Altcoins recover as Bitcoin chops

BTC price is consolidating while it tries to move higher, but Ethereum price seems to be enjoying a full-fledged rally as it comes closer to setting up new highs. Ripple price, on the other hand, is struggling to find bullish momentum.

Read more

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Glued to your trading screen on Cyber Monday? Upgrade your skills by signing up for FXStreet’s Premium service, offered at a discount of up to 50%. Fellow traders have already taken advantage of Black Friday profits. What about you? 

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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.