Gold vs USD

  1. Gold gains during uncertain times
  2. USD gains when the market is booming and investors are “fearless”
  3. When the Gold starts to rise, we see a decline in the equities and rise in Bond prices
  4. Reverse is true when the US dollar goes up
  5. Gold is also considered as a “safe haven” during uncertain times

Gold is trading at $1335 and $1352. Gold has been showing some buying activity in the $1340 region. Also, the 4 hours chart of the commodity shows that the support is at $1340.96 and the resistance at 1358.47. There is a WAVE 3 formation on the chart and it will be confirmed if Gold can hold above $1358.