Trading gold: Waiting for retracement before going long

With the recent rise in geopolitical risk has come the inevitable rise in the price of gold, albeit for a brief period.

IGTV’s Jeremy Naylor speaks to DailyFX currency strategist Michael Boutros about what influences gold price in the longer term. Boutros says that the commonly held belief is that gold has the inverse relationship with the US dollar. However, he says, traders should also look at Japanese yen. This currency, he says, has more of a longer term correlation with gold.

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