The Correlation Between Gold And The USDX

It’s crunch time for gold and the US Dollar Index (USDX), as they find themselves at a crossroads. As of Wednesday, the USDX is holding its lows but wants to move up, thus invalidating its breakdown. And gold? Well, gold did gain a bit today, but it’s essentially jumping up in an elevator that’s moving down – it just doesn’t have enough steam to break out.Q3 2020 hedge fund letters, conferences and moreGold And The USDX: CorrelationsWhile it’s been the traditional view that when the US Dollar declines, gold increases in price, we find that’s not always the case when comparing historical patter…

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HEDGE accordingly