Few things in trading are elementary. But one of those is the inverse movement of the price of Gold to the DXY (Dollar).
The Dollar is being sold off because of the Liberal spending spree. The chart of DXY is going down and likely will hit a bottom around 75-79 in the next 5 months.
That is good news for gold price. With a DXY drop of 14% I would expect a increase in price of Gold 14% or 2050. Usually these trends over shoot the mark. So I am buying gold options.
The Dollar is being sold off because of the Liberal spending spree. The chart of DXY is going down and likely will hit a bottom around 75-79 in the next 5 months.
That is good news for gold price. With a DXY drop of 14% I would expect a increase in price of Gold 14% or 2050. Usually these trends over shoot the mark. So I am buying gold options.
