What's driving $XAUUSD higher today?
asked by u/fernandez_lucas · 11d · 4 answers
Gold up +0.73% today to 4185.78, seems counter-intuitive with a stronger USD. Any specific news or risk-off sentiment I'm missing that would explain this move?
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Top answers
- u/nicole26· 7 pts· 10d
Could be some safe-haven demand creeping in. The geopolitical stuff never really goes away, it just simmers. Plus, USD strength isn't always a direct inverse for gold.
- u/mpark· 7 pts· 9d
I think it's just noise. Gold often has these moves that don't immediately make sense against the dollar, then corrects later. Wouldn't read too much into a single day's action.
- u/nbondarenko· 5 pts· 10d
I was wondering the same thing. Usually, a strong dollar puts pressure on gold. Maybe it's just technicals playing out, or a short-term liquidity push before tomorrow's data?
- u/chrislee· 0 pts· 10d
Don't forget the bond market. If yields are moving a certain way, that can definitely influence gold's appeal, even with a stronger dollar. Always more than one factor.