Full trading conditions >>
|Product Type: Metal CFD||Market: Global|
|Currency: AUD||Measurement Unit: Troy Ounce|
As a precious metal, Gold has many uses in the world of finance as well as in industry. Historically, Gold has been considered a primary medium of exchange. Today, as an investment commodity, Gold is traded on numerous exchanges worldwide. In industry, gold is used to produce jewelry and to manufacture electronic devices and medical devices. As a commodity, there are a number of factors that drive gold prices including the value of the dollar, central bank reserves, interest rates, worldwide jewelry and industrial demand and geopolitical issues. Gold and the dollar tend to have an inverse relationship in terms of price, generally speaking; when the dollar rises in value, gold tends to decline in value. However, this is not always the case. 1 troy ounce of gold is represented as XAU. Gold spot prices are calculated and published every few seconds during market hours.