Gold and Silver are Down as the USD recovers
Wednesday, March 23, 2016 at 08:57PM
Silver Prices

 

 

The above chart of the US Dollar Index shows that the dollar has been making steady progress over the last 5 days as gold and silver prices stutter. The dollars recovery puts downward pressure on the precious metals in dollar terms as the inverse relationship comes into play.

 

When considering the future moves of the precious metals sector take the time to study the Federal Reserve as monetary policy has a massive impact on it and is probably the single most important factor. The Feds future plans, their actual moves and the 'speak' that emanates from the various Fed officials is analyzed in microscopic detail by traders and investors alike trying to gain an edge. The dollar was rocked by earlier by the Feds words but as we can now see it is on the road to recovery. This recovery may well determine golds future direction.

 

Go gently.

 

 

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