‘Death Cross’ Strikes U.S. Dollar As Virus Cases Grow

(Reuters)

A resurgent coronavirus pandemic in the United States and the prospect of improving growth abroad are souring some investors on the dollar, threatening a years-long rally in the currency.

The dollar index is off 6% from its recent highs, while net bets against the currency in futures markets stand near their highest level since 2018.

A decline in the dollar earlier this week set off a technical formation known as a “Death Cross,” which occurs when the 50-day moving average crosses below the 200-day moving average, according to analysts at BofA Global Research.
Past occurrences of the Death Cross have been followed by a period of dollar weakness eight out of nine times since 1980 when the 200-day moving average has been declining, as it is now, analysts at the bank said.

The U.S. currency’s weakness comes amid criticism over the government’s response to the coronavirus pandemic and protests over racial inequality that has eroded support for President Donald Trump months before the Nov. 3 presidential election

You can read the full article here


NEWS and COMMENTARY

Gold hits 1-week peak as U.S.-China row adds to safe-haven demand

Gold ends with a modest loss, holding ground above $1,800 an ounce

Trump says he is ‘not interested’ in trade talks with China

Fed officials warn on ‘thick fog’ ahead for U.S. economy as recovery concerns deepen

Treasury yields move higher ahead of Fed’s Beige Book report


GOLD PRICES (USD, GBP & EUR – AM/ PM LBMA Fix)

14-Jul-20 1798.20 1801.90, 1436.58 1440.62 & 1583.14 1581.71
13-Jul-20 1808.05 1807.50, 1435.23 1432.26 & 1598.32 1591.68
10-Jul-20 1805.75 1803.10, 1433.40 1427.33 & 1599.35 1594.84
09-Jul-20 1812.45 1812.10, 1434.01 1431.74 & 1600.57 1600.08
08-Jul-20 1799.35 1811.10, 1438.40 1438.74 & 1596.38 1598.48
07-Jul-20 1775.50 1789.55, 1423.77 1424.84 & 1576.11 1585.00
06-Jul-20 1774.40 1787.90, 1420.76 1429.43 & 1572.12 1578.36
03-Jul-20  1774.65 1772.90, 1426.29 1422.40 & 1580.33 1577.70
02-Jul-20  1771.85 1777.45, 1415.00 1421.60 & 1568.97 1577.13
01-Jul-20  1787.40 1771.15, 1444.90 1424.63 & 1592.93 1574.82

 


Access Latest Goldnomics Podcast (Part II) Here



Own gold coins and bars in the safest vaults in Zurich, Switzerland with GoldCore. Learn why Switzerland remains a safe haven jurisdiction for owning precious metals. Access Our Most Popular Guide, the Essential Guide to Storing Gold in Switzerland here


Receive Our Award Winning Market Updates In Your Inbox – Sign Up Here



Mark O'Byrne

Also on news-goldcore-com

Videos

China’s Digital Currency: A Warning to the World

Jerome Powell – The Hawk is back

The Black Friday Stock Market Crash – Gareth Soloway

Blog posts

China’s Digital Currency: A Warning to the World

New York Times bestseller author, investment advisor, and money manager Dr. Stephen Leeb is this week’s guest on GoldCore TV. He discusses the rise of China, the emergence of China’s Digital Currency, the transition from fossil fuels to green energy, and why a new monetary system is on the cards. The interview is in 2 […]

READ MORE

Jerome Powell – The Hawk is back

Ex Federal Reserve Advisor Danielle DiMartino Booth sees the new Jay Powell as the old Jay Powell. The Chair of the Federal Reserve has pivoted back to his hawkish stance. The “retiring” of the phrase “transitory inflation” signals Jerome Powell intends to tackle inflation head-on and speed up their plans to taper their bond purchase […]

READ MORE

The Black Friday Stock Market Crash – Gareth Soloway

Black Friday 2021 saw the largest stock market sell-off since 1931. Is this the start of a bigger crash, has the trend changed or is this just a one-time blip? We ask Gareth Soloway of InTheMoneyStocks.com what his charts are suggesting and why he is so bullish on gold Watch the Video to Learn More […]

READ MORE

Featured

Silver – 7 Reasons it is Still Set to Soar

READ MORE

Gold, the Tried-and-True Inflation Hedge for What’s Coming!

READ MORE

How High is Too High for Rising Government Bond Yields?

READ MORE
Newsletter
Category
Archives
Popular

No posts available

Videos

China’s Digital Currency: A Warning to the World

Jerome Powell – The Hawk is back

The Black Friday Stock Market Crash – Gareth Soloway

Blog posts

China’s Digital Currency: A Warning to the World

New York Times bestseller author, investment advisor, and money manager Dr. Stephen Leeb is this week’s guest on GoldCore TV. He discusses the rise of China, the emergence of China’s Digital Currency, the transition from fossil fuels to green energy, and why a new monetary system is on the cards. The interview is in 2 […]

READ MORE

Jerome Powell – The Hawk is back

Ex Federal Reserve Advisor Danielle DiMartino Booth sees the new Jay Powell as the old Jay Powell. The Chair of the Federal Reserve has pivoted back to his hawkish stance. The “retiring” of the phrase “transitory inflation” signals Jerome Powell intends to tackle inflation head-on and speed up their plans to taper their bond purchase […]

READ MORE

The Black Friday Stock Market Crash – Gareth Soloway

Black Friday 2021 saw the largest stock market sell-off since 1931. Is this the start of a bigger crash, has the trend changed or is this just a one-time blip? We ask Gareth Soloway of InTheMoneyStocks.com what his charts are suggesting and why he is so bullish on gold Watch the Video to Learn More […]

READ MORE

Featured

Silver – 7 Reasons it is Still Set to Soar

READ MORE

Gold, the Tried-and-True Inflation Hedge for What’s Coming!

READ MORE

How High is Too High for Rising Government Bond Yields?

READ MORE