Gold prices reached their highest level in six weeks.
The U.S. dollar has been in a steady decline since December. At the same gold has been overlooked. This is now presenting investors with a great opportunity.
#Gold prices have reached their highest levels in six weeks. Meanwhile, the dollar fell to its lowest levels in the last 13 months after the Fed signaled that the process of reducing the size of its balance sheet will begin only in September. A record decline in the greenback propelled prices of the yellow metal. This in turn benefited the broader precious metals sector.
The Federal Reserve’s gradual approach to monetary tightening and its shift in stance on inflation weighed on the U.S. dollar.