Gold intermarket: stabilized on strong DXY

Ross J Burland FXStreet

Gold is in a sideways drift between high of $1,270 and lows of 1$,269 after modest gains this week on the back of a DXY in decline. However, DXY has managed to stablise today due to better performances across some of the major currencies on the board.

The Greenback fell against commodity currencies and the yen, but managed to post modest gains versus the pound and the Euro. In respect of volatility, the VIX is falling to below 16, but as we move towards the U.S. election, this could start to pick up again as uncertainty prevails, driving gold prices higher.

Beige Book: Economy continued to expand at a moderate pace

USD/JPY short-term technicals look bearish - Scotiabank

Author

Ross J Burland

FXStreet

Ross J Burland, born in England, UK, is a sportsman at heart. He played Rugby and Judo for his county, Kent and the South East of England Rugby team.

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