Gold surges, dollar declines on Fed official’s remark & geopolitical unrest

By Gary Wagner – Kitco

A major component of today’s strong upside move in gold was the continued decline of the dollar. The dollar has traded to a lower high, a lower low, and a lower close for the last three consecutive trading days. Currently, the dollar is down 0.44% and the index is fixed at 102.65. Considering that the dollar index was trading above 106 on November 1, the decline in value amounts to approximately 4%.