The Dollar Beat all Other G-10 Currencies – with Gold Rising in 8 of 10 Top Currencies

Despite Strong Dollar, Gold Hovers Around $1700

Gold has stayed above its $1,700 support level but its recent decline is almost entirely due to an ultra-strong “King Dollar,” especially in the last two months. Silver tends to be “gold on steroids,” on both the upside bull market moves and on the downside, so silver is down about three times more than gold this year. The strong dollar has also helped inflation rates shrink over the past seven weeks, since commodities are priced in dollars. Gold and most other commodities have declined since May 31, but mostly in U.S. dollar terms. Inflation rates are far higher in terms of the euro, yen, pound and other major non-dollar currencies lately.

Our Staff Joined “Freedom Fest” in Las Vegas This Year

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