An acronym or symbol for exchange rate for gold. It is usually set against a certain currency- e.g., XAU/USD. X stands for index, and AU for the chemical symbol for gold– the abbreviation for the Latin for gold, ‘aurum’). XAU constitutes the spot price of a troy ounce of gold quoted in a specific currency.
The symbol for XAU can be written Au Oz.
Gold is traded against other popular currencies, including the Australian dollar (XAU/AUD), the Swiss franc (XAU/CHF), the euro (XAU/EUR), and the British pound (XAU/GBP).
For more, see: XAU (forex).
