16
by u/ortiz_lucas·1moDiscussion

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 · 16 points

2 Comments

u/teerapat_t·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.

5
u/liammoreau·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.

3

More like this