Known as the “commodity currency,” the Aussie dollar has long been recognised for its strong positive correlation with gold. In this episode, we take a deep dive into the correlations of gold and a basket of currencies, and show why through understanding these relationships, you can increase your profit potential, and also hedge your trades effectively. We also cover why the price of gold has sky rocketed in recent months and what its future may hold.

FxScouts DISCLAIMER:

75-90% of retail traders lose money trading Forex and CFDs. You should consider whether you understand how CFDs and leveraged trading work and if you can afford the high risk of losing your money. Any information discussed here is solely for educational and informational purposes and should not be considered tax, legal or investment advice.