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It's derived from the global US Dollar price of gold combined with the EUR/USD exchange rate, so it moves with both gold's own price trend and Euro/Dollar fluctuations.
Yes - if the Euro strengthens against the Dollar while the Dollar gold price is flat, XAU/EUR can fall even though XAU/USD hasn't changed, and vice versa.
Traders focused on the Eurozone may prefer XAU/EUR to assess gold's value and hedging properties directly in their own base currency.
Log in to your Pairmetric MetaTrader 5 account, search for XAUEUR in Market Watch, and open a buy or sell position based on your market view.
Yes - Pairmetric offers gold priced in multiple currencies, including XAU/USD and XAU/EUR, so you can choose the pairing that best fits your trading strategy.