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Has gold started to respond to US dollar price moves?

Posted on 25 July 2013

A US dollar rally seems likely in the short term, and this will probably have a very negative impact on the precious metals. Gold climbed up to over $1,347 per ounce after the US dollar slipped against other currencies. The American currency dropped to a one-month low slightly below 82 after extending a broad decline for a third session. Investors are probably wondering if it will drop any further.
The recent price action suggests that market players are still long the dollar, which could weigh on the greenback, said Hiroshi Maeba, head of FX trading Japan for UBS in Tokyo………………………………………..Full Article: Source


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