https://www.moneymetals.com/news/2016/11/21/make-fed-note-great-again-000956
Donald Trump promises to “Make America Great Again.” Whether he can
do it remains to be seen, but the Federal Reserve Note “dollar” is
certainly responding to his victory. Traders began swapping bonds for
dollars the morning after the U.S. elections and they haven’t stopped
yet.
The DXY index topped 101 on Friday – its highest level since
early 2003. Beleaguered precious metals bulls are feeling the side
effects. The surge in the dollar coincides with the retracement of a
portion of the year’s price gains in gold and silver – although gold is
still up close to 13% and silver is up close to 20% year-to-date.
The current challenge for metals isn’t just that the dollar is rising.
No comments:
Post a Comment