Gold Price Forecast: Weak USD Providing Temporary Tailwind
Gold prices are moving up for one reason: a weaker US Dollar.
Source: dailyfx.com
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Gold prices are moving up for one reason: a weaker US Dollar.
The sixth month of the year is usually good for risk, and weaker for the US Dollar.
The Bank of Canada made a hawkish shift with its June rate decision, which sets up the Canadian Dollar on more favorable ground in the near-term.
Copper prices have continued their rebound from their May lows.
The US Dollar (via the DXY Index) has lost ground for two consecutive weeks.