Gold tends to go up when the USD dollar goes down. If the Dollar is going down, gold is going up, since this implies north travel on the S&P and more demand for gold. Market sells US dollars (and typically, buys Euros) when it is confident of a bull day for equities.
However, there are times when gold can rise along with the USD, especially if market is very nervous and looking for safe haven. There are times to trade gold and times to leave it alone. The spot gold symbol is XAU/USD, most brokers enable the trading of spot gold.
USD/CHF is the main risk appetite measure for the USD and 97% correlated to the EUR/USD chart, so watching USD/CHF is important, and it's also why USD/CHF is one of the two risk appetite default charts with any downloaded platform - USD/JPY is the other risk appetite chart, correlated with GBP/USD.
The Euro is the main competitor to the USD, hence it has a very key role in the currency market. Dollar strength is directly correlated with Euro weakness or vice versa.
However, there are times when gold can rise along with the USD, especially if market is very nervous and looking for safe haven. There are times to trade gold and times to leave it alone. The spot gold symbol is XAU/USD, most brokers enable the trading of spot gold.
USD/CHF is the main risk appetite measure for the USD and 97% correlated to the EUR/USD chart, so watching USD/CHF is important, and it's also why USD/CHF is one of the two risk appetite default charts with any downloaded platform - USD/JPY is the other risk appetite chart, correlated with GBP/USD.
The Euro is the main competitor to the USD, hence it has a very key role in the currency market. Dollar strength is directly correlated with Euro weakness or vice versa.