The Dollar’s Relationship to Gold in the Week Ended January 12
On January 12, 2018, gold prices hit a four-month high of $1,338.20 per ounce, and it ended the day at $1,333.40. The implied volatility in gold was 8.9%. Most of these gains were due to the steady decline in the price of the dollar. The US dollar (UUP), tracked by the DXY Currency Index (or DXY) was down 1.0% on January 12.