The global commodities market is a highly dynamic and often complex landscape that requires astute insight, in-depth understanding, and clear analysis. In the latest edition of Chart Attack, Vishal Toora from Equity Guru provides an enlightening tour of this market, touching on gold, silver, copper, uranium, and oil. The Dollar and Commodities Correlation
Starting with the U.S. Dollar Index (DXY), Vishal dissects the negative correlation between the U.S. dollar and commodities such as gold and silver. He explains that a strong dollar often leads to a decrease in the price of these commodities and vice versa.
In the video, he detailed an interesting development post-Fed meeting and post-GDP, where the dollar had a big sell-off but later began to gain some strength. Vishal interprets a significant breakout, highlighting the potential gain in the dollar, with key resistance at 103.50 and a major zone around 105. Gold and Silver
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