The cross rate provides currency valuations from live forex markets. It allows for a live comparison of the price of gold per ounce with the forex market flow. The Euro/Dollar exchange rate, or parity, is simply the ratio of the Euro to the Dollar. It represents the value of one Euro in US dollars. It provides real-time data from live forex markets. The gold price per ounce is the most important metric evaluated alongside the US dollar price. This is because gold is globally equivalent to only the dollar, which is traded in US dollars. The parity provides investors with a forecast of the future direction of gold prices. If the Euro/Dollar exchange rate rises, the Euro has appreciated against the dollar. A rise in the parity and the price of gold per ounce indicates a decline in the US dollar index. This means the dollar is depreciating and the dollar index is rising, driven by a flight from paper money. Monitoring is valuable and important for gold investors and currency exchanges. You don't need to be an expert; Observing the price of the second-ranked gold per ounce in the same direction as the one above it, and the dollar index below it, is sufficient to understand the global market situation five seconds ago. Taking a position accordingly is the right course of action. However, this doesn't always mean they move in the same direction. When they move in opposite directions, it depends on your investment preferences. In our opinion, it's best to be on the rising side, where there's relative size. Also, check out our gold investment page and make quick decisions with our algorithmic AI tool that performs multi-factor technical analysis. The Dollar Index (DX) is traded on the Intercontinental Exchange (ICE) and opens and closes simultaneously with Forex and the global gold market (New York time). The live dashboard provides a currency-based view of gold's direction. The behavior of the yen, the currency of China, one of the largest global gold players, against the dollar is also crucial for predicting gold's direction.