16-05-2024
Forex trading encompasses a wide range of currency pairs. In order to make it easier to navigate the various markets, trading platforms designate specific abbreviations to every pair. One of such abbreviations is XAUUSD.
The abbreviation XAUUSD represents the exchange rate of the US dollar to the price of gold. Unlike other abbreviations that indicate the exchange rate of national currency pairs, XAUUSD shows the comparison between the price of a precious metal and the rate of the US dollar.
In this article you will learn why XAUUSD is included in Forex trading, the history of gold in the financial systems all over the world and why this pair is written like XAUUSD.
The abbreviation XAUUSD represents the exchange rate of the US dollar to the price of gold. Unlike other abbreviations that indicate the exchange rate of national currency pairs, XAUUSD shows the comparison between the price of a precious metal and the rate of the US dollar.
In this article you will learn why XAUUSD is included in Forex trading, the history of gold in the financial systems all over the world and why this pair is written like XAUUSD.
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