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Gold / Australian Dollar (XAU/AUD)

Trade gold, a timeless store of value, via spot markets, futures, and ETFs. Coupled with the Australian Dollar, a key global currency, it’s an attractive pair for forex traders and investors. Get expert market insights and live data at FP Markets Australia.
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Gold / Australian Dollar (XAU/AUD) Profile

For several thousand years, gold was largely used to create religious items such as jewelry and idols. This continued until approximately 1500 BC, when the ancient Egyptian empire, which benefited considerably from its gold-bearing province of Nubia, declared gold to be the first recognized medium of international trade.

In 1966, the Australian Dollar supplanted the Australian Pound. The AUD became a floating currency in 1983. Australian one-dollar coins were debuted in 1984; two-dollar coins were released in 1988. The 1-cent and 2-cent coins were withdrawn from circulation in 2006.

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Gold / Australian Dollar (XAU/AUD) Trading FAQ

A contract for difference (CFD) is a type of derivative that lets you trade on margin, giving you more exposure to the gold market. This type of derivative is very popular. People instead buy or sell units of a certain financial instrument, which means they buy or sell gold units based on whether they think the price of gold will rise or fall.

For the majority of trading styles, the optimal time to trade is during periods of maximum market liquidity. The Forex market is most liquid during the time difference between London and New York business hours, which occurs on weekdays between 9:30 a.m. and 1 p.m. New York time.

Demand for gold, the amount of gold held in central bank reserves, the value of the US dollar, and the desire to hold gold as a hedge against inflation and currency devaluation all affect the precious metal's price movement today.

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