The XAUUSD is the ticker symbol for gold on the forex market. Gold is a precious metal that has been used as a form of currency, jewelry, and investment for centuries. The price of gold is determined by supply and demand in the market, as well as geopolitical factors. Gold can be bought and sold in various forms including bullion, coins, bars, and futures contracts.
- Daily signals are mildly bullish
- A sequence of intraday higher highs and lows has been posted
- This is positive for sentiment and the uptrend has potential to return
- A weaker opening is expected to challenge bullish resolve
- Preferred trade is to buy on dips