Why is gold called xau?

In the Forex market, gold is a form of currency. The international code for gold is XAU, which is a symbol used according to the ISO 4217 currency standard to denote one troy ounce of gold. It is known to be a “safe haven asset” and is expected to increase in value during times of volatility and economic uncertainty. Why is gold called XAU? The meaning XAU comes from the ISO 4217 standard code for one troy ounce of gold.

Gold or XAU is considered a currency. In the past, XAU meant a currency that was used to pay for products. That's why there was a golden age when many people started looking for gold and getting rich. Gold ETFs are listed in the cash segment of the BSE %26 NSE, like any other company stock, and can be bought and sold continuously at market prices.

Instead, the average gold investor should consider mutual funds and gold-oriented ETFs, as these securities generally provide the easiest and safest way to invest in gold. To invest in gold ETFs, all you need is to have a demo account and a trading account with an online account to trade stocks, which would be enough to invest in gold ETFs.