XAU spot ( gold ) volity news indicator or EA to close all trades before high volitslity news only for gold movement.

XAU/USD, GOLD

In the Forex market, gold is a form of currency. The particularity of gold is that it can only be traded against United States dollars (USD). The internationally accepted code for gold is XAU. It is known to be a “safe-haven” asset, it is expected to increase its value in times of volatility and economic uncertainty. The XAU/USD pair tells the trader how many US Dollar (the quote currency) are needed to purchase one Gold Ounce (the base currency). United States is the country that holds the biggest resources of gold in the world.

HISTORIC HIGHS AND LOWS FOR XAU/USD

• All-time records: Max: 1920.80 on 06/09/2011 - Min: 35.32 on 27/07/1970
• Last 12 months (March 2016-March 2017): Max: 1375.03 on 06/07/2016 - Min: 1061.71 on 04/01/2016
• Last 5 years (March 2011-March 2016): Max: 1795.80 on 05/10/2012 - Min: 1046.23 on 03/12/2015

ORGANIZATIONS THAT INFLUENCE XAU/USD THE MOST

• WGC (World Gold Council), the market development organisation for the gold industry whose aim is to stimulate and sustain demand for that commodity.
• LBMA, London Bullion Market Association, whose members conduct trading in this wholesale over-the-counter market for the trading of gold and silver. It is loosely overseen by the Bank of England. Most of the members are major international banks or bullion dealers and refiners.
• COMEX (Commodity Exchange Inc.), the primary market for trading metals. The COMEX merged with the New York Mercantile exchange in 1994 and became the division responsible for metals trading.
• Zurich Gold Pool founded in 1968 by the largest banks in Switzerland after the collapse of the London Gold Pool.
• CGSE, the Chinese Gold & Silver Exchange Society (see above the importance of China in terms of gold reserve).

PEOPLE THAT INFLUENCE XAU/USD THE MOST

• Randall Oliphant, the World Gold Council’s Chairman.
• Janet Yellen, the Chairman of the Federal Reserve of the United States.
• Xi Jinping, President of the People's Republic of China and General Secretary of the Communist Party of China.

ECONOMIC DATA THAT INFLUENCE XAU/USD THE MOST

The main indicators that traders should watch to understand where gold is standing are:

• Demand vs Supply for the commodity
• Struggling markets or context of currency devaluation: gold is known to be a haven for investors in times of economic uncertainty or when any country sees its currency devaluing.
• Practical applications: technology invents, jewellery use, etc.