Gold Moves on Trump’s U.S. Dollar Comment
Date Posted: April 13, 2017
Read time: 1 min
Bernie Lo of CNBC Asia welcomes Frank Holmes to the program on a day when gold shot up significantly following comments made by President Donald Trump, who stated that the U.S. dollar is “too strong.”
Bernie Lo of CNBC Asia welcomes Frank Holmes to the program on a day when gold shot up significantly following comments made by President Donald Trump, who stated that the U.S. dollar is “too strong.” Frank explains that Trump has been very consistent when it comes to his thoughts on the U.S. currency and how he believes it is too strong to be competitive globally. The U.S. dollar and gold have an inverse relationship, so after Trump’s comments, the dollar sank and gold climbed higher.
Frank goes on to explain how a strong dollar may affect other asset classes as well as inflation. Watch the interview here for the full discussion.
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The Purchasing Manager’s Index is an indicator of the economic health of the manufacturing sector. The PMI index is based on five major indicators: new orders, inventory levels, production, supplier deliveries and the employment environment.
