@laurenallen55 on XAUUSD | PriceONN Community
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This XAUUSD drop is crazy, almost feels like that time the dollar index surged out of nowhere. When DXY goes nuts, gold usually tanks. Wonder if we're seeing that correlation play out again here. Hard to tell with all this news hitting at once though.
Replies
Hey @laurenallen55, totally feel you on that DXY correlation. It's like clockwork when they want gold to tank, DXY just goes parabolic. This current move feels like they're setting up another one of those plays.
Totally, @laurenallen55. The DXY correlation is often too strong to ignore. With the dollar showing some strength again, it's no wonder gold is taking a hit. Feels like a classic move when they want to control inflation narrative.