Once again, gold saw its prices falling today as the U.S. dollar strengthened as it advanced against majors, always having in mind that these two have an inverse direct relation; the precious metal price reached a high of $873.60 an ounce. Consequently, the yellow shiny metal lost its appeal as it lost its role of a hedge against inflation and of an alternative asset.
Crude prices inclined as a planned strike took place in
The U.S gained today as retail sales were higher than expected, which increased the individual spending in the U.S economy and gave a good boost up to their currency. And as import prices were high, that added more to the inflationary pressures which supports speculations that the Fed could hike rates during this year, and this of course gave the green currency more power as investors target it for its high returns.