As readers of The Gold Enthusiast know, the price of gold in the USA is closely related to the value of the US Dollar in the currency market. Much of the recent plunge in gold can be traced directly to a rise in the value of the dollar, as a reaction to the US elections. But as we have seen only too often, the market’s reaction probably had some overshoot, so we can expect a short-term bounce in the price of gold. Whether we’ve seen a bottom for gold remains to be seen – only time tells the full story.
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