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Understanding Dollar, Gold and Oil Price Dynamics

Posted By On 7/11/2009 12:51:00 AM Under ,

1. It is worthwhile to note that as and when dollar firms up; that is the time when gold and oil generally moves down. One can understand this fact with an example for the dollar price for June 2009 where statement by Chinese foreign ministry supporting the dollar as a currency of the world has led to a spurt in the price of the dollar and it has led to a change in inter-market dynamics.

2. The US Dollar Index ($USD) bounced at the beginning of June while the Gold-Continuous Futures ($GOLD) and West Texas Intermediate ($WTIC) declined in June. Gold started down first with a move lower in early June. Oil followed by moving lower the second week of June. Thus one must keep an eye on the effect of dollar on gold and crude and viceversa for other commoduities.
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