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How Does Gold Affect the AUD/USD and USD/CHF Exchange Rates?
Abstract：Before we get into the details of the comdolls' connection with gold, it's important to remember that the US dollar and gold don't get along. When the dollar rises, gold usually declines, and vice versa.
Before we get into the details of the comdolls' connection with gold, it's important to remember that the US dollar and gold don't get along.
When the dollar rises, gold usually declines, and vice versa.
Investors tend to dump the greenback in favor of gold during times of economic upheaval, according to conventional wisdom.
Gold, unlike other assets, retains its fundamental value or, to put it another way, its natural luster!
Gold and the AUD/USD currency pair
The inverse link between the US dollar and gold still exists today, albeit the mechanics have shifted slightly.
Because of the dollar's safe-haven appeal, anytime there is economic crisis in the United States or around the world, it tends to rise in value.
The US dollar is often re-invested in by investors.
When there are growth indications, the reverse happens.
Take a look at this amazing chart:
Australia is the world's third-largest gold-digger... er, gold-producer, exporting about $5 billion in gold each year!
Gold and the AUD/USD have a favorable relationship.
The AUD/USD tends to climb in tandem with gold prices. When the price of gold falls, the AUD/USD tends to decline with it.
In the past, the AUD/USD has had an astounding 80% correlation with the price of gold!
Are you still undecided？ Here's something new for you:
Gold and the USD/CHF
The Swiss franc, Switzerland's currency, has a strong link to gold all over the world.
When the price of gold falls, the USD/CHF normally rises since the dollar is used as the base currency.
When the price of gold rises, however, the pair falls.
The Swiss franc, unlike the Australian dollar, swings in lockstep with gold because more than 25% of Switzerland's currency is backed by gold reserves.
The USD/CHF has a negative association with gold.
When gold rises, the USD/CHF falls.
When gold falls in value, the USD/CHF rises.
Isn't that fantastic？
Don't forget that this link isn't fixed in stone, and it could shift in the future.
THE RELATIONSHIP BETWEEN GOLD AND MAJOR CURRENCIES IS ONE OF MANY WE WILL DISCUSS. Continue reading!
Disclaimer:
The views in this article only represent the author's personal views, and do not constitute investment advice on this platform. This platform does not guarantee the accuracy, completeness and timeliness of the information in the article, and will not be liable for any loss caused by the use of or reliance on the information in the article.
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