What's Next for the Dollar, Precious Metals?


"The USD, currently at near three-year lows, is pushing PM gains."

Precious metals and precious metals stocks are higher once again. Gains in the silver price are again outstripping gold on a percentage basis. Gold ETFs are shining, pushed by the string of daily losses in the U.S. Dollar Index (DXY), which is presently sitting near three-year lows.

Holly Hendershot, analyst on the Global Precious Metals at TD Commodities, commented on the weakness in the U.S. dollar and the potential for an even deeper selloff in the greenback.

"The market will listen keenly for any further clues when Fed Chairman Bernanke speaks to the press on Wednesday. Any indication of a continued dovish stance means the party continues and we head on up."

Hendershot noted, "Precious metals this morning show little if any sign of the much-anticipated pullback."

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