Gold price is Trading to a Different Drummer, But Cannot Overcome Dollar Strength

June 20, 2018

New York (June 20)  Gold is genuinely acting differently than other precious metals, as well as the commodity sector, although at first glance it's challenging to see. It is dollar strength that has been the predominant factor regulating and tapering any real upside moves in gold which continues to trade lower, now at its lowest price point this year.

As reported by MarketWatch, Lukman Otunuga, research analyst at FXTM said, "The driver behind gold’s depreciation remains an appreciating U.S. dollar. With the dollar likely to find ample support amongst the bullish sentiment towards the U.S. economy and heightened expectations of higher U.S. interest rates, gold could be poised for further punishment."


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