SubscribeDaily Forex Commentary for November 4, 2009
November 3rd, 2009 • Related • Filed Under
November 4, 2009
Dollar Holds on to Gains despite Strong Gold Rally
The U.S. Dollar managed to hold on to its gains despite the strong rally in the gold market. While the weaker Dollar has been blamed for the August to October rally in gold, stronger gold is not expected to drive the Dollar to new lows. The fundamentals have shifted. The Dollar is getting stronger because of investor aversion to risk while gold is up because of central bank demand.
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