There is NO direct link to GOLD and OIL.
The two actually have Nothing to do with one another other than the fact that they are both commodities, and, they are both subject to "risk on" risk off days.
Trending Correlation and a direct link are two different things. Any Given day one can find a stock or commodity moving in similar fashion to gold. That does not mean that when the traders in the Gold pit see oil moving they suddenly buy gold just "because".
Commods or at least the Majors like Gold, Oil (WTI) and Brent, Copper, Wheat,
Sugar, etc. Are all traded to hedge and speculate. When the large specs take risk off in the commod sector one can expect numbers across the board to be in the red.
Although Gold is considered a "safe haven" any investment in a volatile commodity is risk. Period.
I do not link or "correlate gold" directly to anything anymore. Those days are over. We have seen Gold for many years have a strong inverse relationship with the USD. Yes at times it still exists. And AT times it does not.
The two actually have Nothing to do with one another other than the fact that they are both commodities, and, they are both subject to "risk on" risk off days.
Trending Correlation and a direct link are two different things. Any Given day one can find a stock or commodity moving in similar fashion to gold. That does not mean that when the traders in the Gold pit see oil moving they suddenly buy gold just "because".
Commods or at least the Majors like Gold, Oil (WTI) and Brent, Copper, Wheat,
Sugar, etc. Are all traded to hedge and speculate. When the large specs take risk off in the commod sector one can expect numbers across the board to be in the red.
Although Gold is considered a "safe haven" any investment in a volatile commodity is risk. Period.
I do not link or "correlate gold" directly to anything anymore. Those days are over. We have seen Gold for many years have a strong inverse relationship with the USD. Yes at times it still exists. And AT times it does not.
DislikedWe had our discussion on gold and oil.
you posted a couple of links for which I thank you.
The links did not say there was a direct relationship between the price of oil and gold, in deed one specifically said there was no link.
You havIgnored
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News