- Gold futures hit a record high this morning, over $3,500 per troy ounce, after it was reported that gold exports from Switzerland would face a 39% tariff rate. The U.S.’s rough treatment of its former allies is one explanation for the weakening dollar, according to Macquarie analyst Thierry Wizman. S&P 500 futures are also rising.
The U.S. dollar rose marginally on the DXY foreign currency index over the past 24 hours, but even then few analysts really believe it will work its way back to where it was at the start of the year. The greenback is down 9.4% year to date.
