Currently, viewing or reading Forex Gold price charts online on websites is very popular. This provides good support for traders in trading and investing. In this article, Learn Forex Trading will guide you on how to view the world gold price chart or Forex Gold price most simply.
Overview of Forex Gold price chart
Similar to price charts of other asset types such as stocks, forex,… The Forex Gold price chart is a collection of data about the XAUUSD exchange rate (forex gold). The chart is displayed according to the specified time frame. Includes 2 coordinate axes, 1 vertical axis is price, and the horizontal axis is time.
See more: Discover the “secret” about XAUUSD price
The necessity of viewing the gold price chart
Accurately understanding the parameters of the gold price chart will bring many benefits to investors. Specifically:
- When investing in forex gold or any other asset, price is the most important factor. Instead of looking at thousands of numbers, a chart with visual images will help you easily visualize price fluctuations. For example, if you are a long-term investor, a few months to a year, and too much data overwhelms you, the Forex Gold price chart will help you grasp the most accurate upward and downward trends.
- Price is a measure that reflects all relevant information. Therefore, when observing the Gold price in USD chart, you will know how other factors affect the price of gold without needing to analyze each factor separately.
- The gold price chart shows past prices, the highest or lowest, respectively, in each specific period. From there, traders can find the bottom or ceiling resistance level, determine the correct entry point, and close the order.
- Traders can insert indicators on the gold price chart for technical analysis and identifying trend lines. Besides, the chart clearly shows price fluctuations in each trading session, from which traders can clearly understand price behavior and market psychology.
Instructions on how to view gold price charts online
Nowadays, investors often use online Forex Gold price charts to identify trends and make effective trading decisions. There are 3 extremely important factors you need to understand when reading gold price charts, including chart type, time frame, and gold price.
Classification of gold price charts
The chart shows gold prices of many types. The most popular of which are Japanese candlestick charts, bar charts, line charts, Renko charts, etc. Each type of chart meets the analytical needs and trading style of each trader. From simple to complex, providing clear and complete information about price behavior.
Select the time frame to display the gold price chart
In the simplest terms, you want to search for Forex Gold price fluctuations in any time frame, hour, day, week, month, or year. Normally, there are 3 different types of short and long time frames such as:
- Short-term trading time frame: 1 minute, 5 minutes, 15 minutes, 30 minutes,…
- Average time frame: 1h, 4h,…
- Long-term time frame: 1 day, 1 week 1 month, 1 year,…
Choosing a long or short time frame to view Forex Gold price depends on each person’s strategy. In a short time frame, traders can grasp short-term gold price fluctuations. In a long time frame, traders can see the most general long-term gold price trend.
Technical analysis when looking at the gold price chart
Technical indicators are one of the most important and popular tools. Used in Forex Gold price trend analysis. There are hundreds of different types of technical indicators. Each type represents a specific signal. Accordingly, traders can determine the direction of gold prices.
You can use common indicators such as RSI, MACD, CCI, Bollinger bands, Stochastic,… Some other tools such as support lines, resistance lines, trendlines, and price channels,… also support investors. Read the gold price chart most accurately.
Based on the gold price chart, you can analyze using 2 basic methods:
- Technical analysis: Insert technical indicators into price charts.
- Analyze price action: Observe candle shapes on the Japanese candlestick chart, then analyze the Forex Gold price. In essence, this is a special form of technical analysis method. Just use a different field.
Where to see world gold prices online?
Currently, the strong development trend of technology goes deeper into international financial investment services. Traders can monitor Gold prices online easily and quickly on reputable websites. It could be a forex gold trading broker or websites providing gold prices.
View Forex Gold price with Goldprice.org
Goldprice.org is considered a famous website providing the most accurate gold price charts. When you access this website, you will see the current gold price displayed immediately. See clearly how many points and percentages the gold price has changed compared to yesterday. Below the gold price is a chart showing recent gold price developments.
See the gold price chart with Tradingview.com
With the Tradingview.com website, you can analyze Forex Gold price in much more depth. In the upper right corner of the screen, a price list of forex currency pairs will appear. You multiply the + sign and enter the phrase “XAUUSD” to add it to the list of prices you want to see. Then, click on XAUUSD, and the most detailed gold price chart will appear.
The most important thing is that you can plot anything on the gold price chart. Furthermore, all trading tools are provided to you by Tradingview. Serving all analytical needs or any trading style, from simple to complex.
See more: Instructions for registering an XTB account
View world gold prices with Kitco.com
Kitco.com is another popular world gold price website. Appears in the first search results rankings when you type the keyword Forex Gold price on Google. Online gold prices on Kitco are displayed corresponding to 14 different currencies.
In particular, the price of gold is also specified by each unit of mass such as ounce, gram, kilo, Tola, and Tael. In addition, Kitco.com also displays Fixed gold prices in Shanghai and London. Historical gold prices or ratios of gold/silver, gold/palladium, gold/platinum,…
summary
To invest in gold successfully, you must know how to analyze gold price charts. From there, traders can make the most effective trading decisions. Hopefully, the knowledge in the Learn Forex Trading article can help investors understand how to read gold price charts as well as channels to view Forex Gold price online.
FAQ
What factors are Forex Gold price affected by?
Gold prices change due to many factors such as currency market fluctuations, stock market fluctuations, global economic conditions, and geopolitical events.
How to track gold prices in forex?
Gold prices can be tracked through online charts on trading platforms. Or reputable websites like Kitco.com, Goldprice.org or Tradingview.com. Investors also often use technical indicators and economic news to predict gold price trends.
How to read gold charts in forex?
Gold charts typically use Japanese candlesticks or line graphs to display the open, closed, high, and low prices over a certain period. Technical indicators such as MACD and RSI are also often used to evaluate the trend and strength of the market.
