Trader’s Time Out: Surging Dollar Undercuts Precious Metals Rally

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Trader’s Time Out: Surging Dollar Undercuts Precious Metals Rally

Postby kreslik.news » Thu May 19, 2016 8:26 am


From the desk of Evdokia Pitsillidou, Risk Management Associate at easyMarkets.

Precious metals have downshifted this week, with silver prices trading at one-month lows as hawkish signals from the Federal Reserve and improved domestic data drove a large rally in the US dollar.

Gold futures plunged over 1% on Wednesday to settle at their lowest level in over three weeks. The decline followed a period of directionless trading that saw the yellow metal hover around $1,270 a troy ounce.

Meanwhile, declines for silver futures have been much more pronounced. The grey metal also fell more than 1% on Wednesday to ... (read more)

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