Dollar reversal
A lot of markets have keyed off of U.S. dollar. Real yields have tumbled, taking the dollar with it, helping to boost valuations of stocks and the attractiveness of gold and other commodities. On Wednesday, the dollar enjoyed a reversal. After falling more than 0.5% to a new low on Tuesday, it reversed enough to close above Tuesday high. This has often led to some quick weakness in the dollar, but 3 months later it had a good record of trading higher. This was not a good sign for gold.


