Wednesday, January 18, 2012

Gold Climbs for Third Day in a Row as US Dollar Weakens

Good as gold? Usually that means bad news for the US Dollar.  And lately, the news has not been good.

Gold rose for a third day, climbing alongside other commodities including copper, as the dollar weakened before data forecast to show signs of economic recovery. Spot gold gained as much as 0.4 percent to $1,658.45 an ounce and traded at $1,654.48 at 1:40 p.m. in Singapore. The metal climbed to $1,667.90 yesterday, the highest since Dec. 13 and an increase of 6.7 percent this year. February-delivery bullion was little changed at $1,655.20 on the Comex in New York.

Gold Climbs for Third Day as Dollar Weakens on Optimism Over Economic Data - Bloomberg

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Breaking US Dollar Collapse News

What's Behind the Decline of the US Dollar?

This is one the of the best and simplest explanations we have seen:
The U.S. dollar's downward slide is accelerating as low interest rates, inflation concerns and the massive federal budget deficit undermine the currency. - Wall Street Journal, April 23, 2011
Interestingly, the Federal Reserve is responsible for, or an active participant in all three of these factors.