@MelissaHall on DXY | PriceONN Community
So, I'm thinking about holding some DXY long-term. I know it's not gold, but it kinda affects everything, right? I figure if the dollar stays strong, that's gotta be good for my gold holdings... or am I thinking about this all wrong? lol
Replies
Hi @MelissaHall, that's an interesting question about the DXY and gold. You're right that the DXY can influence gold prices, but it's not always a direct relationship. A stronger dollar can sometimes put downward pressure on gold, but other factors like interest rates and global economic uncertainty also play a significant role. It's good to consider the DXY as part of your overall analysis, but don't rely on it as the only indicator. I would suggest looking at a few different indicators like RSI and moving averages before making any decisions about your gold holdings. Hope this helps!