Information On Xauusd Stock News

Gold price is widely followed in financial markets around the world. Gold was the basis of economic capitalism for hundreds of years until the repeal of the Gold standard, which led to the expansion of a fiat currency system in which paper money doesn’t have an implied backing with any physical form of monetization. AU is the code for Gold on the Periodic table of elements, and the price above is Gold quoted in US Dollars, which is the common yardstick for measuring the value of Gold across the world.

Gold dropped modestly in the wake of last week’s big ($140 runup) – its best weekly performance since 2008. It is off $8 at $1618 as we begin a new week. Silver is down 43¢ at $14 – a reminder of investors lingering concerns about deflation. Overall financial markets continue to react skittishly to the advancing coronavirus and the severe economic damage it has wrought. Financial Times reports this morning that the already strong demand for physical fx xauusd at https://www.webull.com/quote/fx-xauusd is likely to remain in place with weakening currencies globally and negative real rates of return continuing to dominate investor thinking.

Xauusd price

The Fed’s boldness may have soothed jittery investors for a bit, but its massive stimulus program and a similarly giant fiscal effort will struggle to fuel economic recovery while entire nations are huddled behind closed doors. Cheap borrowed capital and subsidized purchasing power mean little when the business has ground to near-standstill in the cause of containment. The week ahead offers plenty of data points to illustrate the degree of economic pain being felt around the world. PMI surveys from a broad range of major economies are due to cross the wires while the US is set to publish the latest batch of official labor market statistics. If this convinces traders that the road to recovery will be a long slog despite policymakers’ explosive efforts, renewed liquidation may sink gold again.

The opening range for 2020 instilled a constructive outlook for the price of xauusd stock news or Nyse bll news at https://www.webull.com/quote/nyse-bll as the precious metal cleared the 2019 high ($1557), with the Relative Strength Index (RSI) pushing into overbought territory during the same period. A similar scenario materialized in February, with the price of gold marking the monthly low ($1548) during the first full week, while the RSI broke out of the bearish formation from earlier this year to push back into overbought territory. However, the price of gold has failed to maintain the monthly opening range for March after trading to a fresh yearly high ($1704), with the recent decline producing a break of the January low ($1517).

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