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OLby u/ortiz_lucas·2moDiscussion

XAUUSD Moving With Dollar Strength Today?

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?

2 comments · 5 points

2 Comments

LIu/liammoreau·2mo

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.

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TTu/teerapat_t·2mo

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.

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