Gold's inverse response to the dollar and inflation is causing pullback, says Tim Seymour
Portfolio Pulse from
Tim Seymour discusses the inverse relationship between gold and the dollar, noting that the dollar index is reaching session highs. This dynamic is causing a pullback in gold prices.
November 13, 2024 | 8:45 pm
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NEGATIVE IMPACT
The rise in the dollar index is causing a pullback in gold prices, which could negatively impact AAAU, a gold-backed ETF.
AAAU is a gold-backed ETF, and its performance is directly tied to gold prices. As the dollar index rises, gold prices typically fall, which could lead to a decrease in AAAU's value.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80