Gold is a commodity subgroup and is one of the world's most traded precious metals. Other popular precious metals include silver, copper and platinum. Gold’s price is quoted per troy ounce (oz t), in US dollars. As such, it is often seen as a currency - XAU or XAU/USD. The main drivers for the price of gold are the aggregate supply and demand for the numerator (XAU) versus the value of the denominator (USD).
Find out what other factors can shift Gold prices in our "What Moves Gold's Price" article.