Bigdolly, Gold is negatively correlated to USD, but with a time leg. So, if you need analysis of future price of gold, just look at price of the USD. Same with Oil prices, with difference that Oil market is under huge impact of OPEC countries. Hope that this analysis help.Guys how do we trade on Gold? Anybody has working strategies to identify breakouts? I see that gold loves to make breakouts.
is this market weekend gaps yeah?Hello trades. I've noticed gaps between price when a new trading week starts and I was wondering why it happens, didn't really research into it. So what is this, why does this happen?
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Gold is nominated in USD (like XAUUSD) so naturally when if price of Gold in USD rises, then the price of USD in Gold falls. I think under price of USD you mean Dollar index (DXY) or something like that. But I don't see much correlation between them.Bigdolly, Gold is negatively correlated to USD, but with a time leg. So, if you need analysis of future price of gold, just look at price of the USD. Same with Oil prices, with difference that Oil market is under huge impact of OPEC countries. Hope that this analysis help.