Last week, prices were up 3.08% and remain near their highest level since August 2016.
A stronger dollar makes gold more expensive for overseas buyers.
Expectations for a faster rate of monetary tightening outside the U.S., which would lessen the divergence between the Federal Reserve and other central banks has eroded the dollar’s relative yield attraction for investors.
The greenback has also been hit by concerns that recent tax cuts will negatively impact the U.S. fiscal deficit, which is projected to balloon to near $1 trillion in 2019.
The declines in the dollar came despite expectations for a faster pace of rate hikes by the Fed this year after data on Wednesday showing a stronger-than-expected increase in U.S. inflation in January.
when gold's price goes down, USD often goes up and visa versa.
A stronger dollar makes gold more expensive for overseas buyers.
Expectations for a faster rate of monetary tightening outside the U.S., which would lessen the divergence between the Federal Reserve and other central banks has eroded the dollar’s relative yield attraction for investors.
The greenback has also been hit by concerns that recent tax cuts will negatively impact the U.S. fiscal deficit, which is projected to balloon to near $1 trillion in 2019.
The declines in the dollar came despite expectations for a faster pace of rate hikes by the Fed this year after data on Wednesday showing a stronger-than-expected increase in U.S. inflation in January.
when gold's price goes down, USD often goes up and visa versa.
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