Gold Price Today: Live Charts, Update, History

Gold investment has proven to have various benefits. Such as:

1. Hedging against various market conditions.
2. Easy access for all kinds of traders.
3. Various investment options.
4. Good for long-term investment.
5. Portfolio diversification,

Continue Reading at Why Is Gold So Attractive to Millennials?

1. When the global economy is growing, investors tend to buy US Dollars and sell gold, and vice versa.
2. AUD/USD has a positive correlation of 80 percent with gold.
3. USD/CHF is the second currency pair that is positively correlated to gold. The reason is that 25 percent of the Swiss Franc in circulation is backed by the country's gold reserves.

Continue Reading at All You Need to Know About Intermarket Analysis

Several factors might affect the movements of gold, those are:

1. Inflation
2. Interest rate
3. Stock market
4. Geopolitical conflict
5. US Dollar
6. Oil price
7. Asian market demand

Continue Reading at Top 7 Factors That Affect the Gold Price

When it comes to the impact of NFP on Gold, experts have concluded that there is no clear long-term relationship between the price of gold and increased employment rate. However, they maintain that employment figures tend to affect the price of gold in the short term. Normally, this tends to be positive news for the United States labor market while it is bad news for gold. This is because on the day the NFP data is released, the prices of gold and other precious metals like silver tend to drop.

However, if the news from the labor market is unfavorable, then the situation is reversed as the implications of the monetary policy and short-term interest rates of the US Federal Reserve determine the reaction of traders. Even then, the relationship between the NFP figures and gold prices remains inconclusive. For example, after the spread of the coronavirus pandemic around the world, the NFP report showed a reduction in the rate of employment, and yet, gold prices continued to be low.

Continue Reading at How to Trade Gold on NFP