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Gold, silver and copper eyeing upside, US inflation report key to US dollar impact
You can’t help but notice just how sensitive commodities are to US dollar movements right now. Take the price action on Thursday as a prime example with an unusually large increase in US jobless claims sparking big gains across the complex, seeing names like gold, silver and copper push back towards their YTD highs. The asymmetric reaction provides a sense of how the stronger dollar has acted as a handbrake on commodity prices this year, limiting what may have been otherwise a spectacular rebound. It also makes you wonder what may happen when the strong dollar story breaks apart? If not accompanied by amplified ... (full story)