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Gold and Dollar Moved Together on Wednesday

Meera Shawn
Gold and Dollar Moved Together on Wednesday

A crucial factor that continues to affect gold is the US dollar. On Wednesday, gold and the US dollar rose 0.15% and 0.12%, respectively. However, these two move in the opposite direction most of the time. On a YTD (year-to-date) basis, gold has risen 3.4%, while the dollar has lost 2.7%.