The USD Dollar Index has been in an up trend since the start of the Russia Ukraine war and there were news that the Fed would raise interest rate by 0.75 in May, June, and July to keep US inflation down.
The Fed has confirmed that US Interest rate would be raised by 0.5 in June and July 2022 in May 12-13 which caused the US Dollar Index to drop from 105 to 101.90-102
Gold trend is up or down following US Dollar Index recently and it is ignoring the Russia Ukraine war. As a result of US Dollar Index going down from 105 to 101.90, gold has gone up from 1786 to 1865 from May 13 to May 24
Identifying a correction gold trend is a key to successful gold trading, The US Dollar Index is the key indicator for gold direction, it is up or down following the Fed monetary policy which requires gold traders to watch the FOMC Meeting minutes and speeches by the Fed chairman, Mr. Powell
Use this tool to view gold buy or sell trend vs USD Index