Financial Times/Harry Dempsey and Hudson Lockett/7-31-2020
“The US dollar has tumbled the most in a decade this month, propelling sterling and the euro higher amid questions over the recovery of the world’s biggest economy and growing political uncertainty.”
USAGOLD note: The sharp downward spiral in the dollar is one of the primary drivers for gold’s bull market. Earlier in the year the two were rising together as investors sought safe haven protection from the economic ill effects of the coronavirus. Since late May, gold has headed up, though, while the dollalr has headed down. The chart shows the performance of the U.S. Dollar Index year to date through July 31.
