Gold (XAU/USD) Prediction Today, January 23, 2024
Gold (xau/usd) Range Up = 2028 to 2035
Gold (xau/usd) Range Down = 2006 to 1991
When you see XAUUSD quoted in financial markets, it represents the exchange rate between gold (XAU) and the U.S. Dollar (USD) for one troy ounce of gold.
For example, if XAUUSD is quoted as 1300, it means that one troy ounce of gold is equivalent to 1300 U.S. dollars. The first part of the symbol (XAU) represents the base currency, which is gold, and the second part (USD) represents the quote currency, which is the U.S. Dollar.
Troy ounces are commonly used in the precious metals market, including gold. Unlike the more familiar avoirdupois ounce, a troy ounce is equivalent to approximately 31.1035 grams. It's important to note that gold prices are subject to market fluctuations, and the XAUUSD rate reflects the current market value of gold in U.S. dollars per troy ounce.
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