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Trade of the Day: Will gold continue to glitter?

Pile of gold bars

The price of gold hit a six-week high at the beginning of the week. Increased geopolitical tensions, in addition to a weaker dollar helped boost the precious metal to levels not seen since mid-October.

Given that gold is traded in dollars, this means it tends to trade inversely to the value of the dollar. The dollar has been weaker over the last month or so, which has served to boost the price of gold. The dollar has dropped just shy of 2.4% over the past month, hitting a nine-week low versus a basket of currencies. Read more here