Prices of Gold and Oil Fall
The US dollar has appreciated sharply and the prices of gold and oil fell.
Gold fell from a high of $1030.80 in March to US$808.05 this week. As for oil, it is currently at US$113.55.
There is a chance that gold may fall further to high – US$700 levels. There is an inverse correlation between the strength of the US dollar and the strength of gold.
The Euro has fallen, as well as the British pound, against the US dollar. This comes amid reports that Germany has suffered a contraction in its economy.
However, with the US economy in bad shape, how long the US dollar will stay strong remains to be seen. Decide what you want to do with your gold investments.
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