This is what I was talking about... note that the dollar index is inverted (upside down).
For the past week, most of the move in gold is due to the movement in the dollar index because we're looking at gold futures in dollars.
Dollar tanks, then gold futures goes up in dollars. It may just stay flat in terms of Euros or francs.
So basically I got lucky shorting it last week, lol. The dollar bounced.
For the past week, most of the move in gold is due to the movement in the dollar index because we're looking at gold futures in dollars.
Dollar tanks, then gold futures goes up in dollars. It may just stay flat in terms of Euros or francs.
So basically I got lucky shorting it last week, lol. The dollar bounced.
Note
Hanging right at 100, going to bed
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.