US Dollar Jumps To 13 Months High Dampening Demand For Gold

US Dollar jumped to a 13 month’s high against a basket of 10 currencies. USD strength is pushing down gold prices. Market analysts think that Federal Reserve Bank will be raising the interest rates soon. This market expectation is making USD more strong while at the same time dampening the demand for the precious metals like gold ans silver as an alternative investment.

In the week end Sept. 2, money managers lowered their bets on a gold rally by 20 percent, the third straight decline, Commodity Futures Trading Commission data showed on Sept. 5. Now this market analyst thinks that you should buy gold at the current price!

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