Why does XAU have high trading volume: it’s a core macro hedging asset, and trading is driven by changes in geopolitics, interest rate expectations, and risk appetite. Today it’s almost flat; the volume comes from institutional hedging.



Related events: the overall market is cautious, and gold as a safe-haven tool is drawing attention (recently there has been interest in bullish options).

Future trend outlook: short-term is relatively steady, and medium-term is slightly bullish (safe-haven demand + expectations of rate cuts). Watch the Non-Farm Payrolls, CPI, and geopolitical news.
$XAU
XAU1.70%
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