Gold is one of the most heavily traded metals in our time, due to the high returns that can be achieved, as well as being a safe haven during economic crises.
Gold has the symbol "USD / XAU” on the trading platform, i.e. gold against dollar. In addition, the trading of gold is not linked to the news of two countries, like currencies; rather, it is largely influenced by the US economy and its currency, the US dollar. The US news should be taken into consideration before making any decisions when trading gold.
You can use the same principles of technical and basic analysis on gold, and you can also make a profit in the case of the decline or rise. Moreover, the movement of gold is directly proportional to the movement of the US dollar.
Factors Influencing Gold Prices:
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