by Mike ‘Mish’ Shedlock
Gold is not as correlated to the US dollar as most think.
I commented on this a few days ago in Gold Surprisingly Correlated With the US Dollar.
[…] Gold has been positively correlated to the US dollar for well over a year.
Most of the time gold is inversely correlated to the US dollar.
The problem, as the lead chart shows, is that the strength of moves in gold vs the strength in moves in the US dollar are totally random.