It ain't political, it's structural: End the Fed, impose some external budget constraint. Until then, we uniparty right off the fiscal cliff. https://t.co/0VBEMsQdef
— Peter St Onge, Ph.D. (@profstonge) April 20, 2023
Tag: dollar drops
Gold, Stocks, & Bond Yields Surge As Dollar Purge Continues
by Tyler Durden
Tue, 12/01/2020 – 16:00
Since the election, and the ongoing roll out of Biden’s nominees for economic and policy teams, the dollar has been on a one-way streak lower…
The dollar is unchanged versus its fiat peers since Jan 2015…
And it appears the plunge in the dollar is being recognized by gold enthusiasts who bid the barbarous relic back above $1800, erasing last week’s end of month losses…
Gold Rebounds Toward $2,000 After Dollar Drops to Two-Year Low
A worker plunges a gold ingot into a cooling bath at the Uralelectromed Copper Refinery, operated by Ural Mining and Metallurgical Co. (UMMC), in Verkhnyaya Pyshma, Russia, on Thursday, July 30, 2020. Gold surged to a fresh record Friday fueled by a weaker dollar and low interest rates. Silver headed for its best month since 1979. , Bloomberg
(Bloomberg) — Gold is rebounding, with Comex futures climbing back to $2,000 an ounce as the dollar weakened and investors bet U.S. interest rates would stay lower for longer.
The dollar dropped to the lowest in over two years, fueling a broad advance in commodities. Spot gold gained more than 3% over the past three sessions, following its first monthly loss since March, as the Federal Reserve’s new approach on inflation added support. That came after a slowdown in buying from gold-backed exchange-traded funds raised concern that a key driver of the metal’s record rally may be losing momentum.
“Now that month end is out of the way, the underlying trends can resume, one of which is a lower U.S. dollar,” said Shyam Devani, chief strategist at SAV Markets in Singapore. “Broadly, the massive increase in global money supply keeps gold in an uptrend.”