wallstreetexaminer.com / by Peter Krauth • July 14, 2017
This is a syndicated repost courtesy of Money Morning. To view original, click here. Reposted with permission.
After falling 6.8% from the June 6 peak of $1,298, the price of goldseemed to have finally hit a bottom on Friday, July 7.
That was when gold prices fell 1.1% to $1,210 – the lowest since March 15. However, the metal has rebounded 1.5% since then to today’s gold price of $1,230.
This week’s gains mostly came from renewed weakness in the U.S. dollar. After all, the U.S. Dollar Index (DXY) has declined from 96 basis points on July 7 to 95.27 today.
And the dollar’s weakness is no real surprise, thanks to the U.S. Federal Reserve.
The post Why the Price of Gold’s Rebound This Week Could Continue Through 2017 appeared first on Silver For The People.
