Market Report: Mirror Reflection of the Dollar

by Alasdair MacLeod
Gold Money

Last Friday (5 August) the US dollar jumped on better than expected payroll figures, and spent the first half of this week easing as the excitement wore off, before rallying again yesterday.

Gold and silver reflected these moves in reverse, falling heavily last Friday, recovering two-thirds of the fall by Wednesday’s US opening, then falling back yesterday. Gold rose only $7 net from Monday’s opening of $1333 to $1340 by early this morning UK time (12 August) and silver by 40 cents from $19.60 to $20.00.

Gold has essentially paused, the moves being a mirror-reflection of the moves that are coming from the dollar side of the price.

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