XAU/GBP Spot Gold / Great British Pound

XAU/GBP is the current price of gold in pound sterling. It tells you how many pounds it takes to buy a single troy ounce of gold, operating as a forex ticker for the precious metal commodity.

Gold is mostly traded in US dollars, with the movement of USD having a significant impact on its price. However, you can also buy it in several other currencies, including the pound as well as the euro and yen, which gives you an alternative exposure to its price action.

Gold is used primarily in jewellery, although it does have some industrial uses too. On the markets, it is prized as a store of value and hedge against inflation, which can see its value rise in times of economic uncertainty.

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Pivot Points

  • Pivot Point
  • Distance

    Distance

    Distance shows the difference between the pivot point and bid rate. It is calculated by subtracting the ask rate from the pivot point rate.

  • Bid
  • Ask

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Understanding Pivot Points

Pivot points are used by traders as a predictive indicator and denote levels of technical significance. When used in conjunction with other technical indicators such as support and resistance or Fibonacci, pivot points can...Read More
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