“U.S. dollar strength has hampered the gold price and has caused shorter-term tactical investors to reduce positions, particularly in the futures market, over the past quarter,” ETF Securities’ head of research Nicholas Brooks said in the article.
PowerShares DB US Dollar Index Bullish (NYSEArca: UUP) rose 2.6% in the second quarter.
SPDR Gold Shares
Full disclosure: Tom Lydon’s clients own GLD.