DXY -Gold
It seems that DXY is turning around. It has closed below 20 Days Moving Average (DMA) . The impact is visible on global gold prices, as they have starting inching up again.
Next confirmation will come once the DXY breaks and trades below 40 DMA.
Here is the recent relationship between international gold price and DXY .
Daily Chart
Long Term Monthly Chart
Keep in consideration that price in India moves differently – as Indian currency also comes into the picture.
If someone has been following our posts on Gold, he /she would understand that due to our currency – the prices of gold in India don’t fall much when global prices fall but they go much higher when international prices inch up.
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