XAU/USD Exchange rate


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Editors’ Picks

AUD/USD: Above 0.6300 on Good Friday holiday with eyes on China CPI

AUD/USD remains above 0.6300, despite stepping back from the monthly high of 0.6363 to currently around 0.6330, at the start of Friday’s Asian session. Markets in Australia/US are closed for Good Friday, Chinese markets are up with March month inflation data on the cards.

AUD/USD News

USD/JPY: The greenback ticks down, trades above 108.00 figure

USD/JPY consolidates gains above the 108.00 figure. The level to beat for buyers is the 109.50 resistance. USD/JPY bull trend stays intact as the spot trades above the 108.00 handle and the 50/200 SMAs on the four chart.

USD/JPY News

Why stocks are recovering and where next

The S&P 500 index has recovered around half the losses it suffered due to the coronavirus pandemic. Is bad news priced in? How much credit does the Federal Reserve deserve? Where next for equities?

Read more

Gold: Multiple upside barriers before crossing $1,700

Despite probing the multi-year high, marked on Thursday, Gold prices near the key resistances while taking rounds to $1,685 at the start of Friday’s Asian session. The Good Friday holidays in major markets are expected to limit the yellow metal’s moves.

Gold News

Gold: Multiple upside barriers before crossing $1,700

Despite probing the multi-year high, marked on Thursday, Gold prices near the key resistances while taking rounds to $1,685 at the start of Friday’s Asian session. The Good Friday holidays in major markets are expected to limit the yellow metal’s moves.

Gold News

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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.