Gold Price Takes a Petrodollar Hit, but the $5,000 Setup Survives

Gold (XAU/USD) price trades at $4,722 on April 9, down 3.32% from its April 8 high of $4,858 as a rebounding dollar created a short-term headwind. The pullback arrived after the US Dollar Index (DXY) bounced 0.65% from its $98.52 low, reviving the petrodollar effect that strengthens the dollar when oil prices recover. However, a The post Gold Price Takes a Petrodollar Hit, but the $5,000 Setup Survives appeared first on BeInCrypto.