Breaking News

US Dollar Double Top? Precious Metals Sure Hope So!

By Chris KimbleMarket OverviewSep 21, 2023 20:14

uk.investing.com/analysis/us-dollar-double-top-precious-metals-sure-hope-so-200589900

US Dollar Double Top? Precious Metals Sure Hope So!

By Chris Kimble | Sep 21, 2023 20:14

Saved. See Saved Items.

This article has already been saved in your Saved Items

DX

+0.08%

Add to/Remove from a Portfolio

XAU/USD

+0.02%

Add to/Remove from a Portfolio

XAG/USD

-0.16%

Add to/Remove from a Portfolio

Gold

-0.08%

Add to/Remove from a Portfolio

Silver

-0.26%

Add to/Remove from a Portfolio

When the US Dollar is rallying and at full strength, it is a clear headwind for precious metals like gold and silver.

But when King Dollar loses his crown and weakens, it is a clear tailwind for precious metals.

USD Chart

USD Chart

Today’s chart of the US Dollar Index highlights why we are at a key decision point. And whichever way the Dollar breaks should decide the fate of gold and silver over the coming weeks and months.

As you can see, the US Dollar has stalled out at its recent highs and 38.2% Fibonacci retracement level. This stakeout is also occurring at the prior 2023 highs and may be forming a double-top pattern.

If this level holds as resistance, then gold and silver may rally. But if the US Dollar breaks out, it would be bad news for precious metals like gold and silver.

It is very possible that this is a key price point for King Dollar and precious metals. Stay tuned.

Related Articles

Francesco Casarella

Remembering Charlie Munger: 10 Pearls of Wisdom From the 'Oracle of... By Francesco Casarella - Nov 29, 2023

Charlie Munger, Warren Buffett's longtime partner at Berkshire Hathaway, passed away peacefully at 99, leaving an indelible mark on the company's success. Acknowledging Munger's...

Bulls Hold Ground Amid Yield Curve's Bear Steepening: What's Next? By Michael Kramer - Nov 29, 2023

It was another pretty slow day on Tuesday, with most of the action in the bond market, with the 2-year falling by 15 bps, resulting in the yield curve steepening with the 10-2 Year...

Beware the Hook: Inflation's Path Downward Won't Be Smooth By Michael Ashton - Nov 29, 2023

The bungee jumper doesn’t just bounce once. Stated in a more high-falutin’ way, perturbed systems normally don’t converge straight back to equilibrium. Obviously, the 2020-2021...

Add a Comment

We encourage you to use comments to engage with users, share your perspective and ask questions of authors and each other. However, in order to maintain the high level of discourse we’ve all come to value and expect, please keep the following criteria in mind:

Enrich the conversation
Stay focused and on track. Only post material that’s relevant to the topic being discussed.
Be respectful. Even negative opinions can be framed positively and diplomatically.
Use standard writing style. Include punctuation and upper and lower cases.
NOTE: Spam and/or promotional messages and links within a comment will be removed
Avoid profanity, slander or personal attacks directed at an author or another user.
Don’t Monopolize the Conversation. We appreciate passion and conviction, but we also believe strongly in giving everyone a chance to air their thoughts. Therefore, in addition to civil interaction, we expect commenters to offer their opinions succinctly and thoughtfully, but not so repeatedly that others are annoyed or offended. If we receive complaints about individuals who take over a thread or forum, we reserve the right to ban them from the site, without recourse.
Only English comments will be allowed.

Perpetrators of spam or abuse will be deleted from the site and prohibited from future registration at Investing.com’s discretion.

I have read and understood Investing.com UK's comment guidelines and agree to the terms described.

Write your thoughts here

Are you sure you want to delete this chart?

Post also to:

Replace the attached chart with a new chart ?

1000

Comment Guidelines

Your ability to comment is currently suspended due to negative user reports. Your status will be reviewed by our moderators.

Please wait a minute before you try to comment again.

Thanks for your comment. Please note that all comments are pending until approved by our moderators. It may therefore take some time before it appears on our website.

<div id="comment">
				<div class="comment js-comment" data-comment-id="{commentID}" id="comment-{commentID}" data-user-id="">
    <div class="mainComment js-content">
       <div class="commentInnerWrapper">
        <a href="{userLink}" class="js-user-link"><img src="{userImage}" width="33" height="33" alt="{usernameAlt}" class="img" onerror="this.src='https://i-invdn-com.investing.com/defaultUserMaleTmp.png';"></a><div class="commentBody">
                					<span class="commentUsername">
                    	<a href="{userLink}" class="js-user-link js-user-name">{username}</a>
					</span>
                                <span class="js-date" comment-date="{dateFormat}" comment-date-formatted="{dateFormatted}" title="{dateTitle}">Just Now</span>
                <div class="commentDropDown js-commentDropDownWrapper " data-user-id="" data-cid="{commentID}">
	<a href="javascript:void(0);" class="threeDotsIconSmall js-thinDropdownArrow"></a>
	<div class="tooltipPopup commentActionsPop noHeader js-commentDropDownOptions displayNone">
		<div class="addRow js-option share">
			<a href="javascript:void(0);" class="js-commentSharePopup" data-cid="{commentID}" data-curl="{commentLink}"><span class="smallShareIcon middle"></span>Share</a>
		</div>

<div class="js-option addRow follow">
            <div class="js-follow-post-button" data-reg_ep="follow comment">
                <span class="alertfollowIcon middle"></span>Follow this post            </div>
            <div class="js-unfollow-post-button displayNoneImp">
                <span class="alertUnfollowIcon middle"></span>Unfollow this post            </div>
        </div>

<div class="addRow js-option save"  data-reg_ep="save comment">
		<a href="javascript:void(0);" class="js-save-item-btn" data-item-type="comments" data-item-id="{commentID}">
			<i class="saveItemBigIcon middle"></i>
			Save		</a>
	</div>
	<div class="addRow saveItemsConfirmation noHover displayNone js-saveItemResult">
		
<div class="content js-saveItemSuccess displayNone">
	<span class="mediumGreenSuccessIcon"></span><span>Saved. See <a href="/members-admin/saved-items" target="_blank">Saved Items</a>.</span>
	<a href="javascript:void(0);" class="bugCloseIcon js-close"></a>
</div>
<div class="content js-saveItemAlreadySaved saveItemAlreadySaved displayNoneImp">
	<span>This comment has already been saved in your <a href="/members-admin/saved-items" target="_blank">Saved Items</a></span>
	<a href="javascript:void(0);" class="bugCloseIcon js-close"></a>
</div>
	</div>

<div class="addRow shareButtons js-sharePopup displayNone">
			<div class="js-shareComment"><span class="js-shareCommentSpan"></span></div>
		</div>
	</div>
</div>
                 <div class="commentAuthor js-comment-by-author"><span class="commentAuthorIcon"></span>Author's response</div>             </div>
		<div id="commentText-{commentID}" class="js-text-wrapper commentText withImage">
							<div id="commentBigChart{commentID}" class="commentBigChart js-comment-chart" onclick="openViewChartPopup('{commentID}')">
					<img src="https://d51-invdn-com.investing.com/comments_images/{commentImage}" alt="{commentAlt}">
					<i class="newMagnifyChartIcon"></i>
				</div>
						<span class="js-text">{commentContent}</span>
			<div class="clear"></div>
							<div class="commentButtons js-not-master-user">
					<a href="javascript:void(0)" class="reply js-reply-btn" data-real-parent-id="{commentID}" data-to-user-name="{username}" data-to-user-id="">Reply</a>
					<div class="inlineblock likeDislikeBox js-like-dislike-box" data-item-id="{commentID}">
	<input class="js-like-checkbox" type="checkbox" name="option" value="Yes" id="like_{commentID}">
	<label for="like_{commentID}" class="like" title="I agree"></label>
	<span class="numOfLikes js-like-count lighterGrayFont">0</span>
	<input class="js-dislike-checkbox" type="checkbox" name="option" value="No" id="dislike_{commentID}">
	<label for="dislike_{commentID}" class="dislike" title="I disagree"></label>
	<span class="numOfDislikes js-dislike-count lighterGrayFont">0</span>
</div>

<div class="reportComment js-flag float_lang_base_2">
                            <a href="javascript:void(0);" id="commentFlag_{commentID}">
                                <span class="reportCommentIcon middle"></span><span class="inlineblock middle">Report</span>
                            </a>
                        </div>
                    				</div>
					</div>
	   </div>
	</div>
	</div>			</div>
			<div id="reply">
				
    <div class="commentReply js-comment js-comment-reply" data-comment-id="{commentID}" id="comment-{commentID}" data-user-id="">
		<div class="commentInnerWrapper"><a href="{userLink}" class="js-user-link"><img src="{userImage}" width="33" height="33" alt="{usernameAlt}" class="img" onerror="this.src='https://i-invdn-com.investing.com/defaultUserMaleTmp.png';"></a><div class="commentBody js-content">
            				<span class="commentUsername">
					<a href="{userLink}" class="commentUsername js-user-link js-user-name" onMouseOver="">{username}</a>
				</span>
                        <span class="js-date" comment-date="{dateFormat}" comment-date-formatted="{dateFormatted}" title="{dateTitle}">Just Now</span>
			 <div class="commentAuthor js-comment-by-author"><span class="commentAuthorIcon"></span>Author's response</div> 			<div class="commentDropDown js-commentDropDownWrapper " data-user-id="" data-cid="{commentID}">
	<a href="javascript:void(0);" class="threeDotsIconSmall js-thinDropdownArrow"></a>
	<div class="tooltipPopup commentActionsPop noHeader js-commentDropDownOptions displayNone">
		<div class="addRow js-option share">
			<a href="javascript:void(0);" class="js-commentSharePopup" data-cid="{commentID}" data-curl="{commentLink}"><span class="smallShareIcon middle"></span>Share</a>
		</div>

<div class="js-option addRow follow">
            <div class="js-follow-post-button" data-reg_ep="follow comment">
                <span class="alertfollowIcon middle"></span>Follow this post            </div>
            <div class="js-unfollow-post-button displayNoneImp">
                <span class="alertUnfollowIcon middle"></span>Unfollow this post            </div>
        </div>

<div class="addRow js-option save"  data-reg_ep="save comment">
		<a href="javascript:void(0);" class="js-save-item-btn" data-item-type="comments" data-item-id="{commentID}">
			<i class="saveItemBigIcon middle"></i>
			Save		</a>
	</div>
	<div class="addRow saveItemsConfirmation noHover displayNone js-saveItemResult">
		
<div class="content js-saveItemSuccess displayNone">
	<span class="mediumGreenSuccessIcon"></span><span>Saved. See <a href="/members-admin/saved-items" target="_blank">Saved Items</a>.</span>
	<a href="javascript:void(0);" class="bugCloseIcon js-close"></a>
</div>
<div class="content js-saveItemAlreadySaved saveItemAlreadySaved displayNoneImp">
	<span>This comment has already been saved in your <a href="/members-admin/saved-items" target="_blank">Saved Items</a></span>
	<a href="javascript:void(0);" class="bugCloseIcon js-close"></a>
</div>
	</div>

<div class="addRow shareButtons js-sharePopup displayNone">
			<div class="js-shareComment"><span class="js-shareCommentSpan"></span></div>
		</div>
	</div>
</div>

</div>
		<div id="commentText-{commentID}" class="js-text-wrapper commentText withImage">
							<div id="commentBigChart{commentID}" class="replyBigChart displayNone js-comment-chart">
					<img src="https://d51-invdn-com.investing.com/comments_images/{commentImage}" alt="{commentAlt}">
					<i class="newMagnifyChartIcon"></i>
				</div>
				<span id="commentSmallChart{commentID}" class="commentSmallChart pointer js-comment-chart" onclick="openViewChartPopup('{commentID}')">
                    <img src="https://d51-invdn-com.investing.com/comments_images/{commentImageSmall}" width="116" height="52" alt="{commentAlt}">
                    <span class="chartMagnifyOverlay displayNone"></span>
                    <span class="searchGlassIcon chartMagnify displayNone"></span>
                </span>
						<span class="js-text">{commentContent}</span>
			<div class="clear"></div>
							<div class="commentButtons js-not-master-user">
					<a href="javascript:void(0)" class="reply js-reply-btn" data-real-parent-id="{commentID}" data-to-user-name="{username}" data-to-user-id="">Reply</a>
					<div class="inlineblock likeDislikeBox js-like-dislike-box" data-item-id="{commentID}">
	<input class="js-like-checkbox" type="checkbox" name="option" value="Yes" id="like_{commentID}">
	<label for="like_{commentID}" class="like" title="I agree"></label>
	<span class="numOfLikes js-like-count lighterGrayFont">0</span>
	<input class="js-dislike-checkbox" type="checkbox" name="option" value="No" id="dislike_{commentID}">
	<label for="dislike_{commentID}" class="dislike" title="I disagree"></label>
	<span class="numOfDislikes js-dislike-count lighterGrayFont">0</span>
</div>

<div class="reportComment js-flag float_lang_base_2">
                            <a href="javascript:void(0);" id="commentFlag_{commentID}">
                                <span class="reportCommentIcon middle"></span><span class="inlineblock middle">Report</span>
                            </a>
                        </div>
                    				</div>
					</div>
		</div>
    </div>
			</div>
			<div id="show-more-comments">
				<a class="showMoreComments block">
					<span class="arial_12 showArrowafter">Show more comments (<span class="js-amount"></span>)</span>
				</a>
			</div>
			<div id="show-more-replies">
				<a class="showMoreReplies block">
					<span class="arial_12 showArrowafter">Show more replies (<span class="js-amount"></span>)</span>
				</a>
			</div>

Are you sure you want to delete this chart?

Replace the attached chart with a new chart ?

1000

Comment Guidelines

Your ability to comment is currently suspended due to negative user reports. Your status will be reviewed by our moderators.

Please wait a minute before you try to comment again.

I feel that this comment is:

Spam

Offensive

Thank You!

Your report has been sent to our moderators for review

More Categories

1D1W1M6M1Y5YMax

	FTSE 100	7,423.46	-31.78	-0.43%
	DAX	16,166.45	+173.78	+1.09%
	Euro Stoxx 50	4,370.65	+22.63	+0.52%
	S&P 500	4,550.58	-4.31	-0.09%
	Nikkei 225	33,398.50	+77.28	+0.23%
	Dow Jones	35,430.42	+13.44	+0.04%
	FTSE 100 Futures	7,451.5	+9.7	+0.13%

	Brent Oil	83.06	+0.18	+0.22%
	Crude Oil WTI	78.08	+0.22	+0.28%
	Gold	2,045.50	-1.60	-0.08%
	Silver	25.008	-0.064	-0.26%
	Copper	3.8418	+0.0080	+0.21%
	London Cocoa	3,586.00	+0.00	+0.00%
	London Wheat	188.60	+0.65	+0.35%

	U.K. 10Y	4.1265	+0.0285	+0.70%
	U.K. 5Y	4.1390	+0.0270	+0.66%
	U.K. 2Y	4.5855	+0.0395	+0.87%
	Germany 10Y	2.4165	-0.0085	-0.35%
	U.S. 10Y	4.274	+0.003	+0.08%
	U.S. 5Y	4.225	+0.006	+0.13%
	U.S. 2Y	4.650	+0.002	+0.03%

	Lloyds Banking	43.45	+1.00	+2.36%
	Vodafone Group PLC	70.81	-0.05	-0.07%
	Barclays	140.30	+0.18	+0.13%
	BT Group	122.55	+0.40	+0.33%
	HSBC	594.80	-12.40	-2.04%
	BHP Group Ltd	2,394.50	-32.00	-1.32%
	Exxon Mobil	102.34	-1.56	-1.50%

Most Popular Articles

FTSE 100 Live: Stocks slip ahead of open on Wall Street By Proactive Investors - Nov 29, 2023

OECD alert: These are the risks for the global economy By Investing.com - Nov 29, 2023

OECD calls for reform to UK pension triple lock By Proactive Investors - Nov 29, 2023 6

Crypto boom! Bitcoin at annual highs: Going for $40,000 By Investing.com - Nov 29, 2023

LME wins lawsuit over cancellation of nickel trades By Sharecast - Nov 29, 2023

Top 3 Discounted Tech Stocks to Buy This Cyber Monday By Günay Caymaz - Nov 27, 2023

Remembering Charlie Munger: 10 Pearls of Wisdom From the 'Oracle of... By Francesco Casarella - Nov 29, 2023

7 Timeless Investment Mantras for Enduring Success in the Markets By Francesco Casarella - Nov 28, 2023 2

The Commodities Feed: OPEC+ Week By ING Economic and Financial Analysis - Nov 27, 2023

The Commodities Feed: Gold Holds Above $2,000 By ING Economic and Financial Analysis - Nov 28, 2023 1

Central Bank Rates

	Central Banks		Interest Rates	Next Meeting
		BOE	5.25%	Dec 14, 2023
		ECB	4.50%	Dec 14, 2023
		FED	5.50%	Dec 13, 2023
		SNB	1.75%	Dec 14, 2023
		RBA	4.35%	Dec 05, 2023
		BOC	5.00%	Dec 06, 2023
		RBNZ	5.50%	Nov 29, 2023
		BOJ	-0.10%	Dec 19, 2023
		CBR	15.00%	Dec 15, 2023
		RBI	6.50%	Dec 08, 2023
		PBOC	3.45%
		BCB	12.25%	Dec 13, 2023