Currency Pair correlations with Gold
Gold and USD
During times of Economic Unrest, investors shows lack of interest in Dollar(USD). Hence, when gold goes up, USD falls.
Gold and AUD/USD
Australia is the third largest gold producer in the world, selling approx. $5Billion/year. So AUD/USD raises when gold goes up.
Gold and NZD/USD
New Zealand is also one of the biggest gold producer in the world. With gain in gold, NZD/USD also goes up.
Gold and USD/CHF
CHF raises when gold goes up as 25% of Switzerland's reserve are backed by gold and pair moves down.
Gold and USD/CAD
CAD raises when gold goes up as Canada is 5th largest producer of gold. Hence, when gold raises up, USDCAD goes down.
Gold and EUR/USD
Both Gold and Euro are ANTI_DOLLARS. If price of gold goes up then EUR/USD may go up as well.
Oil and USD/CAD
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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