USD Index and Gold Trend

The USD Dollar Index has been sold off from 103.50 to 98.80 because U.S inflation has been cooling down and gold investors are expecting the Fed will not raise U.S interest rate.

July 2023, US Dollar Index Chart

As a result of a weak US Dollar Index, Gold failed to break the 1985-1900 support zone and it has gone up from 1900 to 1961-1963 in the last couple of days.

Identifying the right gold trend is a key to successful gold trading, The US Dollar Index is the key indicator for gold direction. The U.S inflation is bellow the market expectation which make gold investors and traders speculate that the Fed will not continue to raise U.S interest rate.

US Dollar Index has drop to 98.80-99.00 zone, a reversal of U.S Dollar Index which is negative for gold (XAUUSD) up trend.

Use this tool to view gold buy or sell trend vs USD Index