Xau Usd Eur correlation

Hi,

about the Gold Eur and Usd, shouldn't they be correlated? i mean if the Dollar gets weaker then EurUsd raises and the same should be for XauUsd,

in this case yesterday Nov 17th 09 the Gold raised so
XauUsd raised
but not in the same percentage the raising was for the XauEur,

i thought that yesterday the Eur could have been valuated more than the Dollar but! EurUsd was bearish

looking another cross at yesterday rates ,EurChf was almost stable so Eur couldn t be stronger to justify XauEur less performance than XauUsd,

so why XauUsd raised more than the XauEur if the Eur was weaker than the Dollar (EurUsd bearish), i expected that with EurUsd bearish due a stronger Dollar (the dxi dollar index increased) XauEur should have been raising more tha XauUsd when gold raised but yesterday was exactly the opposite

Thanks for any clue.
FxZ

If we are talking about November 17, 2009, then XAUEUR rose much faster on that day than XAUUSD. One ounce added more than 6 euros and only about 2.4 dollars.

the markets are often correlated -- but never 100%. capital flows may move assets in similar directions. gold can be moved by the price of the USDx, but during popular wedding seasons in India, gold prices tend to rise too, regardless of what the USDx is doing...this is caused by wedding traditions involving gold buying. People holding EUR may just be buying more gold than those holding USD...all things are possible. Take correlations as a direction guide, difficult to use for exact price or percentage targets.

Lol a funny tradition from India.