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Dollar strength beginning to dip – good news for gold

A stronger U.S. dollar has kept the gold bulls hemmed in all summer, but that looks about the change. The greenback is showing signs of decline and beginning to lose value, which opens the door for gold prices to rise as fears of a global recession intensify.

The dollar fell against the euro yesterday (Tuesday), while the price of oil is also beginning to drop. According to experts, a $3 dip on Tuesday reflects concerns about inflation. A new wave of Covid-19 lockdowns in China is also causing real worry, with analysts expecting a decline in fuel demand as a result.

With an overall sense of unease now creeping into many different commodities and industries, there’s no better time to buy gold.

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