Currency Pair Correlations with Gold

2 min readJun 4, 2019

Gold and USD

During times of Economic Unrest, investors shows lack of interest in Dollar(USD). Hence, when gold goes up, USD falls.

Australia is the third largest gold producer in the world, selling approx. $5Billion/year. So AUD/USD raises when gold goes up.

New Zealand is also one of the biggest gold producer in the world. With gain in gold, NZD/USD also goes up.

CHF raises when gold goes up as 25% of Switzerland’s reserve are backed by gold and pair moves down.

CAD raises when gold goes up as Canada is 5th largest producer of gold. Hence, when gold raises up, USDCAD goes down

Both Gold and Euro are ANTI_DOLLARS. If price of gold goes up then EUR/USD may go up as well.

CAD raises when Oil goes up as Canada is one of the top Oil Producer that exports 2 Million Barrel/Day . USDCAD goes down with the rise in Oil.

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