Gold and the U.S. dollar tango anew
It’s been an interesting few days and an even more intriguing last two hours or so for both the trade-weighted U.S. dollar and the gold price as, on a daily basis at least, they now seem to be moving together more often than not. On Monday and Wednesday this week they were both down and now, today, they’re both up a little.
That area circled in yellow – around $1,100 an ounce in New York trading – seems to have been hotly contested over the last few days. Based on the latest economic developments in the U.S. (mostly bad) and the latest political intrigue involving Greece (mostly bad), anything could happen over the next day or so for the dollar, the euro, and the gold price.
Categorised as: Gold News