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Commodities Briefing - Categorized | Trading more

Why this could be an awful week for commodities

Posted on 11 November 2013

The U.S. dollar has enjoyed a massive rally over the past two weeks, which has weakened commodities such as gold and crude oil. But according to several traders, the worst could be yet to come.
A strong dollar tends to hurt commodity prices, because as the dollar gains in value, then it takes fewer of those dollars to buy an ounce of gold or a barrel of oil. Consequently, a rising Dollar Index (which compares the U.S. dollar to a basket of four other currencies) usually causes gold and oil prices to drop………………………………………..Full Article: Source


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VRS - who has written 39041 posts on Opalesque Commodities Briefing.


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