XAUUSD (GOLD VS DOLLAR)
FAST FACTS
1. Symbol Meaning: XAU represents gold, derived from its chemical symbol, and USD is the US dollar. Together, XAUUSD represents the gold-to-dollar exchange rate.
2. Safe Haven Asset: Gold is often seen as a “safe haven” during economic uncertainty, making XAUUSD highly volatile during global crises.
3. Inverse Relationship: XAUUSD typically moves inversely to the US dollar index (DXY); a weaker USD often pushes gold prices higher.
4. Trading Volume: XAUUSD is one of the most traded precious metal pairs in the forex market, with significant liquidity.
5. Historical High: Gold hit a record highest record in history of $2790 per ounce in October, 2024.
