Gold drivers
How gold relates to its main drivers: the dollar (DXY) and the 10-year US Treasury yield (nominal and real). Data: DXY and 10Y from Yahoo, the real 10Y from FRED.
Settings
Section titled “Settings”Mode («Режим»)
Section titled “Mode («Режим»)”- Correlations («Корреляции»): gold’s correlation with DXY and with 10Y over the window.
- Z-score: how far each of the three has moved from its norm.
Default: Correlations.
How to read it
Section titled “How to read it”Normally both correlations are negative: the dollar and yields rise, gold falls. The legend suggests the conclusion:
- «фон за золото» (backdrop for gold): the dollar over the window and the real yield over 5 days are falling;
- «фон против золота» (backdrop against gold): both are rising;
- «драйверы разнонаправлены» (drivers diverge): the dollar and the real yield go different ways;
- «связь сломана» (link broken): both correlations are above 0.2, gold moves on its own (geopolitics, central bank buying, safe-haven demand).