Wednesday, April 9, 2014

US Dollar Is Breaking Down -- a Boost for Gold

Here's a chart of the US Dollar Index.

(Updated chart)

The US Dollar Index just had its biggest plunge in 6 months.At least part of this has to be due to the problems in Ukraine. As the US has slapped sanctions on Russian businessmen, Russia is trying to move away from the US dolllar.

This should be good for gold. At least, it has been in the past. Bullion is also getting a boost from news that Iran is going to buy more gold.

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