“All of this should be put in context. The gold price is only back to where it was in early July and remains up a healthy 18% over the past year. The widely touted dollar rally, after a drop at the end of the week, has the dollar recovering less than one-fifth of the decline since Biden was elected president. “
The dxy has recovered almost all off its value from the date off election in November 2020 when after a fall during the crazy last few months of trump it was called even lower
it hit a low of 89 ish on 6 th jan as Biden was confirmed and the riots occurred at the capital- at that time consensus - just about everyone was on tv calling or predicting at least a further slump in many cases of up to a further 30 percent - everyone has and seemingly is still short usd
here is the chart of dxy- there is no fall end of week infact it now sits below 92
you will see it has done the exact opposite to the calls for major falls at 89 since the Biden confirmation and is almost back to Election Day numbers
just thought I’d point it out as the data does not support commentators claims on usd fall end of week or that it hasn’t got more than 1/5 th back since he was elected - utterly incorrect - given that totally incorrect information contained in the first paragraph I didn’t even bother assessing the rest
