21st November 2017

In a remarkable turn of events and illustrating just how directionless the gold market has become, we saw a complete downside reversal set in over the precious metal over the course of Monday’s session whereby the impressive gains achieved on Friday were completely rolled back in a $20/ounce selloff. There was no particular reason behind the decline, but the stronger dollar was one possible catalyst. Although the dollar finished relatively unchanged against both the Euro and sterling (at 117.30 and $1.3240), it gained ground against the yen (112.62) and was also up basis the general index.