Chart of the Day
Gold is on a tear thanks in part to the declining US dollar. With a sluggish US economy came significantly lower interest rates and that led to a weaker dollar. Dollar-denominated treasury bills are less appealing when interest rates are very low and the dollar is declining. So for those funds that an investor or financial institution wants to set aside for a rainy day, gold begins to glitter. Today's chart illustrates the inverse relationship gold and the dollar have had since January 2002. Stay tuned...
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