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

  • Post #1
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  • First Post: Nov 24, 2008 4:07am Nov 24, 2008 4:07am
why gold/usd have symbol : XAU/USD ?

thanks for reading and answer !
Gold in lat. = Aurum hence the chemistry symbol Au.
Quoting TJPLD
Gold in lat. = Aurum hence the chemistry symbol Au.
Yes, but why the first letter is X ?
Quoting banana9009
why gold/usd have symbol : XAU/USD ?

thanks for reading and answer !

Actually, this is very interesting question.
Quoting Ruslanc1k
Yes, but why the first letter is X ?
Why is porn XXX?

Because it can be...
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.
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?
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.
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.
Quoting banana9009
why gold/usd have symbol : XAU/USD ? thanks for reading and answer !
X is used to denote metalAu for Aurum, gold.
Arun
Quoting Ruslanc1k
{quote} Yes, but why the first letter is X ?
X is used to denote metalAu for Aurum, gold.
Arun
are XAU/USD CFDs spot gold or futures gold CFDs?
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
Why is beer XXXX? Because it's GOLD



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  • Last Post: Nov 23, 2020 3:34am Nov 23, 2020 3:34am
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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