Investing.com investing.com 28 Dec, 2020 22:30 am

As USDX Is Poised To Pop, What Happens To Gold?

As USDX Is Poised To Pop, What Happens To Gold?
Commodities Analysis by Sunshine Profits (Przemyslaw Radomski, CFA) covering: EUR/USD, XAU/USD, XAG/USD, S&P 500. Read Sunshine Profits (Przemyslaw Radomski, CFA)'s latest article on Investing.com

23–25, the price action still follows a familiar playbook: In 2018, the USDX dipped below the 1.) Moreover, the 2018 USDX bottom also marked the 2018 top in gold , silver and the gold miners (depicted in charts 2 and 3 below).Since back in 2018, the USDX’s bottom was at about 1.Well, if the early 2018 pattern was being repeated, then let’s check what happened to precious metals and gold stocks at that time.

Consequently, even if the USD Index is to decline further from here, then the implications are not particularly bullish for the precious metals market.) Consequently, the implications for the precious metals market are not as bearish as everyone and their brother seems to tell you.

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