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« COMEX Available Gold Continues To Drop And Why That Should Matter For Investors | Main | Should You Worry That the Stock Market Just Formed a “Death Cross”? »

Gold fades as the US Dollar recovers from the Fed’s inaction on rates


The above chart shows the US Dollar in recovery mode after “The Janet’ failed to raise rates and the dollar got hit, boosting gold prices in dollar terms.

We didn’t expect this rally in gold to last long and it now appears to be sputtering.

Gold hit a near term high of $1141.00/oz but is now trading at $1132.00/oz.

The US Dollar dropped to ‘94’ on the USD Index (DXY) last Friday but has progress since then and is now trading at 95.90 putting a reasonable bounce.

We would now expect the dollar to continue to strengthen in the near term and gold to soften as their inverse relationship remains intact.

Go gently

So, is it time to be long or time be short on the precious metals sector?

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