Gold Price (XAU/USD): Live Gold Chart, Price Forecast & News

The gold trade is one of the most popular trades in the world. Every day, trillions of dollars worth of gold are traded on the global market. The price of gold is determined by supply and demand, as well as by geopolitical events.

Gold is often seen as a safe haven investment. When there is economic uncertainty, investors tend to pour money into gold, driving up the price. Gold is also used in jewelry and for other decorative purposes, which also drives demand.

The price of gold is measured in troy ounces. One troy ounce equals 31.1 grams or 1/12th of a pound. The most common way to trade gold is via the spot market. In the spot market, buyers and sellers trade directly with each other at the current market price.

Gold can also be traded via futures contracts. Futures contracts are agreements to buy or sell gold at a future date at a set price. Gold futures are traded on major exchanges such as the New York Mercantile Exchange (NYMEX) and the London Bullion Market Association (LBMA).

The vast majority of gold trading is done in USD. However, gold can also be bought and sold in other currencies such as EUR, GBP, JPY, and CHF.

Gold is typically seen as a long-term investment. However, it can also be traded for short-term gains. Gold prices are highly volatile and can move up or down by large amounts in a short period of time.

When trading gold, it is important to keep an eye on global events that could impact the price. Geopolitical tensions, central bank policy decisions, and economic data releases are all key drivers of the gold price.

Gold is a very popular trade for online traders. Many online brokers offer gold trading as part of their forex offering. To trade gold, you will need a forex account with leverage and access to the gold spot market or futures market.

Gold trading is complex and risky. Before starting to trade, it is important to understand the factors that drive the gold price and the risks involved.

The current gold price per ounce is $1,622.40. The best way to stay up-to-date on current gold rates is to check online resources or ask your broker. Online resources such as XE provide live gold prices in various currencies. Checking multiple resources will help you get a better sense of the current market price.

Source [1]

The average estimate among 10 participants at the Denver Gold Forum is that bullion prices will reach $1,806.10 an ounce by the end of the year [2].

According to Statistics South Africa, domestic mining production decreased by 8.4% year-on-year in July 2022. The largest contributors to this decline were gold (-3.1 percentage points), platinum group metals (-2.8 percentage points), and iron ore (-2.7 percentage points).


  1. Kitco
  2. Bloomberg