silver up, dollar down

Not sure. Mild uptick (one tenth of one percent) in UK inflation rate released this morning...
 
Shippeevt said:
Doesn't silver normally go up when dollar goes down?
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We've been seeing the AUD and silver price moving together recently, mostly due to the strength of the USD and confidence in the U.S. economy.

For them to suddenly move in opposite directions, with the AUD dropping and the silver price rising, would suggest some other factor is now in play.

Eventually I was expecting the AUD to drop due to weakness in the Australian economy, and the silver price to rise when denominated in Aussie dollars, but that was a longer term perspective. This could just be a blip, or it could be the start of something major. We'll probably know within 24 hours.
 
Shippeevt said:
Doesn't silver normally go up when dollar goes down?
Click to expand...

AUD dropped .6c as silver went up 40c.

looks like I wont be regretting last weekends buy for at least a couple more days.
 
nsw2206 said:
its amazing! finally they stop following each other.

is it the german data??
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Yes along with UK inflation figures coming in slightly better than expected. That pushed the Euro and GBP up against the USD sending the USD down and gold/silver up. US PPI figures are due out in a few hours and if there's any major movements outside expectations you'll see another bounce or dive.
 
Maybe everyone just realised what was decided at the G20 and are dumping dollars as fast as they can?
 
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