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Commodities Briefing - Categorized | Bullion/Gold, Price Watch more

What drives the gold price?

Posted on 10 April 2013

There is still an incredible amount of misunderstanding on Wall Street about the relationship between the price of gold and the true value of the U.S. dollar. Most pundits simply claim that a rising dollar, as measured by the Dollar Index (DXY), causes gold prices to fall…and that is the end of their analysis.
In truth, the dollar’s intrinsic value carries the most weight in determining the price of gold and not simply how the dollar is faring vis a vis a basket of other fiat currencies. According to many market analysts, the 5% rise of the dollar on the DXY since February has been attributed to the return of “king dollar” and that, as they claim, is why gold prices are falling………………………………………..Full Article: Source


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VRS - who has written 36521 posts on Opalesque Commodities Briefing.


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