If you caught our Friday bulletin, you’ll know that the 10-year Treasury note hit a one-year high last week, sending gold prices lower and creating an opportunity to buy on the dip. Today, we are seeing a reversal of fortunes as the US dollar and treasury yields have once again slumped, giving the precious metal a boost.
A weaker US dollar has long been forecast by industry experts with the greenback widely expected to falter through the year. This is very good news for gold and supports much higher prices for the precious metal, making for a twin push to higher prices for gold. If you haven’t yet purchased, now is the time to make your move.