Thread: What currencies cover gold positions?

Another tip: if you're going to cover gold with a currency, do it at times of high correlation, not random. Use recent data, not assumptions. And never, ever, cover a losing operation. I covered it from the start, as part of the strategy, not as a patch when you're already in red.

Good point. I think I’m getting closer to a structure that combines partial coverage and batch reduction when the price goes against. I don’t want to overcomplicate it, but I don’t want to keep improvising every time XAUUSD makes an unexpected turn.

Then you go well. Remember that the best hedge is a good entry. And if you’re not 100% convinced of the trade, you better not open it. Gold is beautiful to trade, but it’s volatile and treacherous. I learned to live with it or I chose another asset. That’s simple.