Why does gold/usd have the symbol: XAU/USD? | Metals Mine

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Why does gold/usd have the symbol: XAU/USD?

  • #1
  • First Post: Nov 24, 2008 3:07am Nov 24, 2008 3:07am
why gold/usd have symbol : XAU/USD ?

thanks for reading and answer !
  • #2
  • Nov 24, 2008 4:49am Nov 24, 2008 4:49am
Gold in lat. = Aurum hence the chemistry symbol Au.
  • #3
  • Jun 1, 2011 10:20am Jun 1, 2011 10:20am
Quoting TJPLD
Gold in lat. = Aurum hence the chemistry symbol Au.
Yes, but why the first letter is X ?
  • #4
  • Jun 2, 2011 6:59am Jun 2, 2011 6:59am
Quoting banana9009
why gold/usd have symbol : XAU/USD ?

thanks for reading and answer !

Actually, this is very interesting question.
  • #5
  • Jun 2, 2011 7:37am Jun 2, 2011 7:37am
Quoting Ruslanc1k
Yes, but why the first letter is X ?
Why is porn XXX?

Because it can be...
  • #6
  • Jun 2, 2011 9:49pm Jun 2, 2011 9:49pm
X = index. A lot of ETFs are prefixed X on the stock markets. If I'm mistaken XAU is the symbol for the Philadephia Exchange Gold Sector index and not the price of gold itself, but a pretty good proxy because most gold companies track the price of physical gold.
  • #7
  • Jun 3, 2011 2:34am Jun 3, 2011 2:34am
Quoting CodeMeister
X = index. A lot of ETFs are prefixed X on the stock markets. If I'm mistaken XAU is the symbol for the Philadephia Exchange Gold Sector index and not the price of gold itself, but a pretty good proxy because most gold companies track the price of physical gold.

What about the rest of gold companies? Where do they take price from?
  • #8
  • Jun 3, 2011 3:59pm Jun 3, 2011 3:59pm
Making an index of companies is very complicated and I won't try to explain it here. The chosen companies are assigned a weighting within the index, so not all companies are equal. The companies not included are considered irrelevant or not listed on the exchange. If you went to a different exchange, say Toronto, you find a different gold index.
  • #9
  • Jun 6, 2011 2:46am Jun 6, 2011 2:46am
Quoting CodeMeister
Making an index of companies is very complicated and I won't try to explain it here. The chosen companies are assigned a weighting within the index, so not all companies are equal. The companies not included are considered irrelevant or not listed on the exchange. If you went to a different exchange, say Toronto, you find a different gold index.
Thank you for information.
  • #10
  • May 27, 2014 10:38pm May 27, 2014 10:38pm
Quoting banana9009
why gold/usd have symbol : XAU/USD ? thanks for reading and answer !
X is used to denote metalAu for Aurum, gold.
Arun
  • #11
  • May 27, 2014 10:40pm May 27, 2014 10:40pm
Quoting Ruslanc1k
{quote} Yes, but why the first letter is X ?
X is used to denote metalAu for Aurum, gold.
Arun
  • #12
  • Oct 10, 2014 12:49pm Oct 10, 2014 12:49pm
are XAU/USD CFDs spot gold or futures gold CFDs?
  • #13
  • Jan 13, 2015 5:41am Jan 13, 2015 5:41am
X means INDEX i guess or tracker.. like DXY (DOLLAR INDEX SPOT).. gold price is compared to the dollar index(DXY) which makes sort of an index to obtain XAU/USD
  • #14
  • Oct 9, 2020 4:43pm Oct 9, 2020 4:43pm
Why is beer XXXX? Because it's GOLD



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It takes a lot for me to IGNORE you, but you can try.
  • #15
  • Last Post: Nov 23, 2020 2:34am Nov 23, 2020 2:34am
Quoting CodeMeister
Making an index of companies is very complicated and I won't try to explain it here. The chosen companies are assigned a weighting within the index, so not all companies are equal. The companies not included are considered irrelevant or not listed on the exchange. If you went to a different exchange, say Toronto, you find a different gold index.
Wow, very informative, thank you!

I came into this thread expecting joke replies but didn't expect to learn something. Great forums!
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