Manage episode 296528652 series 73377
Gold and silver bulls attempted to start a rally this week, but prices were capped by a strengthening U.S. Dollar Index.
The buck has advanced strongly against foreign currencies over the past month. Currency traders are encouraged by the Federal Reserve’s apparent plans to taper asset purchases and begin raising interest rates way out in 2023. Dollar buyers also seem convinced that the recent inflation spike is transitory.
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