Gold: Rolling Correlations

Gold: Rolling Correlations.

The US dollar still rules the day, which opens up for a correction in gold if we get that bounce in the dollar.
Negative correlation to VIX is still somewhat high.
Overall, most of the correlations that have at some points been pretty strong (both negative and positive) are still chopping around near the zero line.
Gold is for the first time more positively correlated with VWO (Emerging markets) than with either TIP (Real rates) or GVI (Bonds).
It really looks like gold in US dollar terms is currently trading more as a direct currency (anti dollar hard money) than it has for a long time (at least 2 years+).
- Not really following inflation expectations (TIP).
- Not really following bond yields. (GVI).

Best regards,

The Hedgeless Horseman

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