Trade XAU/USD
Gold / US Dollar
Gold priced in US dollars per troy ounce. Tracks real interest rates, central bank buying, and risk sentiment across global markets.
Price Chart
Specifications
Trade XAU/USD on weekends
XAU/USD is part of the StoicMarkets 24/7 group. A dedicated weekend instrument, XAUUSD.24-7, keeps quoting after the standard Friday close, so you can open, manage and close positions on Saturdays and Sundays. Weekend liquidity is thinner, so spreads can be wider than in weekday sessions.
Explore weekend tradingAbout Gold (XAU/USD)
Gold is the most widely traded precious metal and has served as a store of value for thousands of years. Priced in US dollars per troy ounce, XAU/USD sits at the intersection of monetary policy, inflation expectations, and geopolitical risk. When real interest rates fall, holding gold becomes less costly relative to yield-bearing assets, and demand tends to increase. When inflation expectations rise or geopolitical tensions escalate, capital flows into gold as a hedge against uncertainty. Central banks are among the largest holders of gold reserves. Their buying and selling patterns, particularly from institutions in China, India, Turkey, and Poland, have become a structural driver of long-term price trends. Annual mine supply adds roughly 1.5% to the above-ground stock, making gold one of the most supply-inelastic commodities. On the demand side, gold jewellery accounts for roughly half of annual consumption, with investment and central bank purchases making up most of the rest. Gold also has a well-documented inverse relationship with the US dollar index (DXY). A weaker dollar makes gold cheaper for non-USD buyers, supporting demand. Conversely, dollar strength tends to weigh on gold prices. This relationship is not absolute, but it holds across most macro regimes.
Key Price Drivers
- US real yields and Federal Reserve interest rate expectations
- Inflation data and inflation-adjusted bond yields
- Central bank gold reserve purchases (China, India, Turkey, Poland)
- Geopolitical risk, sanctions, and safe-haven capital flows
Peak Trading Hours
Gold trades nearly 24 hours on weekdays. Volume peaks during the London and New York sessions.
London-New York overlap (13:00-17:00 UTC)
The LBMA AM fix (10:30 London time) and PM fix (15:00 London time) can create short-term price clusters.
Trading Considerations for XAUUSD
Watch Real Yields, Not Just Rates
Gold responds to real interest rates (nominal rate minus inflation), not nominal rates alone. The US 10-year TIPS yield is the most watched proxy. When real yields fall, gold tends to rally.
Track Central Bank Activity
Central bank gold purchases have reached record levels in recent years. Quarterly reports from the World Gold Council and IMF reserve data reveal accumulation trends that support long-term price direction.
Use the LBMA Fix as a Reference
The London Bullion Market Association sets benchmark prices twice daily (10:30 and 15:00 London time). Large institutional orders cluster around these fixes, creating short-term volatility windows.
Mind the Dollar Correlation
Gold and the US dollar index (DXY) tend to move inversely. A weakening dollar makes gold cheaper for non-USD buyers and typically supports prices. Monitor DXY alongside your gold positions.
Key terms
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Frequently Asked Questions
What is XAU/USD?
XAU/USD is the ticker symbol for gold priced in US dollars per troy ounce. XAU is gold's ISO 4217 currency code, a reference to its historical role as money.
How do interest rates affect gold?
Higher real interest rates increase the opportunity cost of holding gold (which pays no yield), so gold typically falls when real rates rise and rallies when they fall.
Why do traders use gold as a hedge?
Gold carries no counterparty risk and has preserved purchasing power across centuries of monetary upheaval. Traders and institutions use it to hedge against inflation, currency debasement, and geopolitical instability. Central banks worldwide hold gold in their reserves for the same reasons, and their ongoing purchases provide a structural floor under demand.
What is the contract size for gold on StoicMarkets?
One standard lot of XAU/USD represents 100 troy ounces of gold. At $2,500 per ounce, a full lot has a notional value of $250,000. StoicMarkets also supports mini lots (0.1 = 10 oz) and micro lots (0.01 = 1 oz), letting you scale your gold exposure to match your account size.
Is gold a good hedge against inflation?
Gold has historically preserved purchasing power over long periods, but it does not track inflation month to month. It responds more directly to real yields and monetary policy expectations than to CPI prints alone. Over decades, gold has outpaced inflation in most currencies.
What moves the gold price the most?
Federal Reserve policy expectations and US real yield movements are the dominant short-term drivers. Over longer timeframes, central bank reserve accumulation and structural shifts in dollar confidence play a larger role. Geopolitical events can cause sharp spikes but rarely sustain trends on their own.
Can I trade gold on a 10X account?
Yes. XAU/USD is available on StoicMarkets 10X accounts with up to 1:20 leverage on the amplified buying power. A $500 deposit on a 10X account provides $5,000 in gold trading capacity.
Does gold trade on weekends?
No. Gold CFD markets close on Friday evening and reopen on Sunday evening (server time). Prices can gap between Friday's close and Sunday's open if news breaks over the weekend.
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CFDs are complex instruments and carry a high risk of rapid capital loss due to leverage. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.