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Is the dollar stronger or weaker?

CaptHenwayCaptHenway Posts: 33,004 ✭✭✭✭✭
in Precious Metals
I'm confused. On www.kitco.com, they've got a box you can check to find out if gold is up or down because of either predominant trading in that direction, or because the dollar is down or up.

Looked at it just now, and it said that gold is up because the dollar is stronger.

However, as far as I can tell from the bottom of the page, gold is down vs. other currencies.

What am I missing?
Numismatist. 54 year member ANA. Former ANA Senior Authenticator. Winner of four ANA Heath Literary Awards; three Wayte and Olga Raymond Literary Awards; Numismatist of the Year Award 2009, and Lifetime Achievement Award 2020. Author "The Enigmatic Lincoln Cents of 1922," due out late 2025.

Comments

  • derrybderryb Posts: 37,899 ✭✭✭✭✭
    strenth or weakness is comparative to something else. Choose your poison.

    Does being a fiancial whiz with dollars make one an expert with gold?

  • JustacommemanJustacommeman Posts: 22,852 ✭✭✭✭✭
    Captain- it is being measured against the US dollar index. The index is weighted ovet 50% by the euro/dollar. The sterling/dollar and yen/dollar make up the next largest piece of the puzzle. So it's quite possible that the "dollar" or "dollar index' could be up solely because the dollar gained on the euro (and was down on the other currencies in the index). A lot of the currencies KITCO tracks are not in the index and some they don't track are. ie Swedish Krona................MJ
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  • BigEBigE Posts: 6,949 ✭✭✭
    It is very confusing, that I'm sure of------------BigE
    I'm glad I am a Tree
  • 1Mike11Mike1 Posts: 4,427 ✭✭✭✭✭
    Dollar is weak. Google dollar index. Hope this helps.
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  • OverdateOverdate Posts: 7,191 ✭✭✭✭✭
    I think the dollar index is compared to what it was at a particular earlier time that is used as a benchmark. (I'm not sure what that time is.)

    The dollar index is then considered to be "up" or "down", depending on how it compares to what it was at that earlier time.

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