Gold Up, Dollar Down, what is next?

Discussion in 'Metals' started by Larry, Nov 21, 2017.

  1. Larry

    Larry Administrator

    Metal such as Gold is having a good time as it recovers in opposition to falling USD. Gold gained momentum during the last hours, getting up from a near daily low to $1280 and above. The Metal hit a fresh high at $1284.60/oz.

    On the other hand, the U.S index fell from 94.00 top levels to 93.75. Other trading instruments were down, with the Dow Jones up by 0.75% to hit a record high. The USDJPY was near 112.00 due to a weak dollar that was not supported by a better than expected US data. We will now see if the US dollar will get any fresh bids after the FOMC meeting tomorrow.

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