Gold prices are getting pummeled on a daily basis and appear to be coming down as fast as they went up.
First we had Brexit which resulted in both the Euro and the British Pound getting sold off hard. When these two currencies lose value the US Dollar is forced to go higher as per The US Dollar Index. As gold has an inverse relationship to the dollar then gold’s value tends to fall in dollar terms.
The election of Donald Trump also appears to good for the dollar as the expectation is that the re-building of the infrastructure, in all its forms, will give the economy a boost and so investment funds start to flow into the US.
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