The US Dollar Index, as tracked by $UUP, has bounced from support and is heading higher.
(Updated chart)
Irrespective of what happens with Iran, this drags on crude oil prices, because crude is priced in dollars. And rising demand from China is all well and good, but a rising dollar usually weighs on gold as well.
(Updated chart)
Irrespective of what happens with Iran, this drags on crude oil prices, because crude is priced in dollars. And rising demand from China is all well and good, but a rising dollar usually weighs on gold as well.
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