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What the dollar's retreat from global dominance means for investors as gold hits new records
The U.S. dollar has been weakening all year in a sign of possible threats to its global standing. Meanwhile, gold is having its day in the sun, rising above $4,000 an ounce for the first time on Tuesday and poised for what some analysts think will be levels near $5,000 by the end of next year. The U.S. currency's depreciation against major peers since January has more to do with investors' decisions to hedge the risks of a depreciating American currency rather than a choice to sell all U.S. assets, according to Marc Chandler, a strategist and managing director at Bannockburn Capital Markets in New York. This ... (full story)
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