Live Exchange Rates - XAU/USD
Current tradable exchange rates, live from OANDA fxTrade
Understanding live exchange rates
OANDA is electronically connected to numerous global banks to access the best currency rates for its forex traders, and electronic algorithms on OANDA’s fxTrade servers update exchange rates tick-by-tick, in periods of less than a second. The currency rates shown on this page are updated less frequently, but are still a close reflection of the rates available to forex traders right now.
XAU/USD at a Glance
Gold (Currency Code: XAU)
- Chemical symbol: Au, from the Latin aurum
- Gold is a metallic chemical element that has the form of a dense, soft, shiny yellow metal.
- Gold has been widely used as a vehicle for monetary exchange, either through gold coins and bullion, or through paper currency backed by gold reserves.
- Gold standards and the direct convertibility of currencies to gold have been abandoned by world governments in favor of fiat currency systems.
U.S. Dollar (Currency code: USD)
- Central bank: The Federal Reserve System (also known as the Federal Reserve, or the Fed)
- The USD (also called the greenback or buck) is the de facto global currency. Most commodities (including gold and oil) are priced in USD.
- The U.S.A. has by far the largest economy in the world.
- America faces challenges from developing economies, and has consistently large trade deficits with other nations.