Commodities take a tumble as the US Dollar Index rises above its 50 Day Moving Average (USD)

By James Moore

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Commodities have slumped this afternoon after the US Dollar Index took a good look at its 50 Day Moving Average (DMA). The move wipes the shine off recent risers, Gold, Silver, Platinum and Palladium; all dipping 1.3% to 2%. Also Crude dipped by nearly 1.5% as the Dollar threatened to retrace back into a more positive territory. The move might be short-lived though, with every failure to break this key resistance zone adding to the likelihood that the Dollar will endure further decline.

Author: Stuart Langelaan

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Platinum

Author: James Moore

This article does not provide any financial advice and is not a recommendation to deal in any securities or product. Investments may fall in value and an investor may lose some or all of their investment. Past performance is not an indicator of future performance.