XAUUSD Moving With Dollar Strength Today?

asked by u/ortiz_lucas · 1mo · 2 answers

Usually, $XAUUSD has an inverse correlation with the dollar. Today, we're seeing both the dollar generally stronger (vs EUR) and gold up (+0.73%). Any specific drivers for gold's rally or is this just technical momentum?

Join the full discussion

Top answers

  • u/teerapat_t· 5 pts· 1mo

    I wouldn't read too much into a single day's move. Sometimes the correlation breaks down, especially with all the macro noise. Let's see how it closes and what the next few days bring.

  • u/liammoreau· 3 pts· 1mo

    It's possible some geopolitical tensions are providing a flight to safety bid for gold, even with dollar strength. Could also be some short covering after the recent dip.