Gold Correlation with Currency Pairs 🟡💰

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Gold (XAU/USD) often moves inversely to the USD due to the negative correlation with the dollar.

1️⃣ USD & XAU/USD: When USD strengthens, gold tends to drop, and vice versa.
2️⃣ EUR/USD: A stronger euro can boost gold prices as both are influenced by global events.
3️⃣ GBP/USD: Similar to EUR/USD, the pound's movement can affect gold prices.
4️⃣ JPY: Gold may rise during times of risk-off sentiment, which strengthens JPY.
Understand these correlations to make better trading decisions!

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