Gold 
”Commodities relapse as dollar strengthens
A relapse for commodities as the dollar rallies has knocked early optimism that the global economy is robust enough to shrug off the policy implications of burgeoning inflation.
US petrol futures have traded down sharply enough — the RBOB contract is now down 7.1 per cent, to $3.11 a gallon — that the New York Mercantile Exchange triggered its trading halts on oil products at one point. WTI crude futures are down 4.7 per cent at $99.03.
The stronger dollar is having a particularly hard impact on the rally in precious metals. Silver — arguably the market’s favourite vehicle for punting, and therefore a good gauge of risk appetite — was down 7.6 per cent at $35.59 an ounce. Gold has also fallen 1.2 per cent to$1,500 an ounce.
Bond investors also continue to bet against a rapid recovery, with benchmark US Tresaury yields falling back to near their lowest level of the year. Ten-year note yields are down 5 basis points to 3.16 per cent.”
*This information is solely an excerpt of a third-party publication and is incomplete. Please subscribe to the referenced publication for the full article. This is not an offer to buy or sell precious metals. Investors should obtain advice based on their own individual circumstances and understand the risk before making any investment decision.
