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Daily market commentary: The US dollar recovered some of the ground recently lost to the euro

Daily market commentary: The US dollar recovered some of the ground recently lost to the euro

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This article was originally published by LeapRate

GOLD

The US dollar is recovering and consequently gold is losing ground. Bullion’s decline is proportional to the recovery of the greenback, confirming that the current movement is mostly related to what is happening on the currency markets. In other words, the main trend for gold remains positive and a clear surpass of $1,990 and then $2,005 would open space for further rallies. Despite stocks looking strong currently, with US indices at a new historical high, investors are increasing their gold investment as a strategic and defensive asset in case there are new market corrections. Moreover, the strong dovish monetary policy of central banks is another element which is supporting the gold price rally.

Carlo Alberto De Casa – Chief analyst, ActivTrades

The post Daily market commentary: The US dollar recovered some of the ground recently lost to the euro appeared first on LeapRate.

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