Euro and Gold positive correlation

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Euro and Gold positive correlation
« on: March 05, 2021, 05:32:37 PM »
The euro is one of the most important alternatives to the U.S. dollar among fiat currencies. This is why there is often a positive link between the euro and gold: both assets have negative correlation to the greenback. However, the relationship is far from being a perfect correlation, as one can see in the chart below. This is because gold is not merely an alternative against the U.S. dollar, but also against the current monetary system based on fiat currencies. Therefore, in some cases the euro and the dollar both lose (or gain) a ground against gold.