2 651.37 USD
+2.82 (+0.11%)

XAUUSD Key Statistics

Open price
2646.63
High today
2666.74
Low today
2643.09
52 Week high
2685.42
52 Week low
1931.52
Trading hours
-12:00
-11:00
-10:00
-09:00
-08:00
-07:00
-06:00
-05:00
-04:00
-03:00
-02:00
-01:00
UTC 00:00
+01:00
+02:00
+03:00
+03:30
+04:00
+04:30
+05:00
+05:30
+05:45
+06:00
+07:00
+08:00
+09:00
+09:30
+10:00
+11:00
+12:00
+12:45
+13:00
+14:00
UTC 00:00
Symbol trading specification

About XAUUSD

One of the biggest markets for gold is the United States and it can be seen in the XAUUSD index. The relationship between spot gold price and the US dollar has a great history. Today the New York Stock Exchange (NYSE) and Chicago Commodities Trading Center are the two main markets for determining gold prices in US Dollars.

What is XAUUSD?

The XAUUSD price shows how many USD traders need to pay for an ounce of pure gold. Since 1971, the price of gold has been increasing due to the ban on the solid equivalency of one ounce of gold for 41 USD. That happened during Nixon's administration, and ever since, we have seen the spot mini gold index increase.

The XAUUSD index shows investors how much an ounce of gold in the American market costs. The price has to do with gold being readily deliverable to purchasers and investors. That means when you buy an ounce of gold, you need to be ready to store it physically.

In reality, XAU/USD has to do with contracts between buyers and sellers having a premium for the secure storage of the commodity. It is essential for those who want to explore how to trade XAUUSD.

How does XAU USD work?

Traders can negotiate the price of a gold ounce from 10 AM to 4 PM every business day in Eastern Standard Time (New York City Time).

However, some more complex gold transactions in Chicago use Central Time. When the demand for gold becomes more apparent than the supply, the gold price goes up in US dollars. However, when there are lower interest rates in the economy and the growth is apparent, the XAU USD plummets, and that's what traders eager to explore how to invest in XAUUSD should keep in mind.

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