Morning traders, can GOLD and the USD move together at the same time? technically shouldn't they be inversely correlated? regularly they are inversely correlated yes, BUT from here we need to keep in mind that the inverse correlation breaks in a recessionary environment and they both can move together in a risk off environment caused by recession or growth concerns, both act as the classic safe havens in such cases, and at the moment we are dip buyers on GOLD so does that mean we also expect USD strength? kinda yes, but that's not the way we want to trade it just yet, we prefer GOLD longs
That remains our long term focus at the moment, to buy dips in precious metals to bring into the new year, particularly GOLD, pending order is a bit too far to get filled now so dips below 1800 are for us attractive to position manually
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