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Gold prices went south this week hitting the $2,150 level. The precious metal could slip further if the Commodity Markets fail to recover this week. The XAU/USD chart shows GOLD prices falling by nearly 4 points and dipping by close to 0.20%. This week has been harder for commodity investors as both GOLD and oil prices remained in the red. Also Read: US Dollar Trounces Gold & Other Local Currencies Source: Investing.com Brent Crude is down by 0.88 points leading it to slump more than 1%, as its price fell to $86.48 on Wednesday. In addition, crude oil dipped 1.14% losing its value by 0.94 points and falling to $81.76. Therefore, commodities like gold and oil are printing losses this week making investors lose money. So why are gold prices falling? In this article, we will highlight why gold and commodities like oil and gas are dipping in price. Also Read: Goldman Sachs Predicts the Future of the Cryptocurrency Market Why Are Gold Prices Falling? Source: Dai...

The U.S. Dollar and Bitcoin have been moving in inverse directions. Throughout 2022 as Bitcoin shed value, the U.S. Dollar index grew stronger. Interestingly, the DXY ’s 2023 high nearly coincided with Bitcoin’s 2023 low. According to the thumb rule, Bitcoin tends to benefit from a weak greenback. Usually, DXY ’s downtrend helps strengthen Bitcoin’s value, and vice versa. Can U.S. Dollar Help Bitcoin Rise Like a Phoenix ? Over the past few months, a few interesting trends have been observed on the DXY and BTC charts. Primarily, both assets have been trading within a horizontal channel. While Bitcoin stepped into it by mid of last year itself, the Dollar Index caught up a few weeks later. In Q1, whenever DXY was seen trading around the ceiling of the setup, Bitcoin had been hovering around lows [1]. Contrarily, whenever BTC traded around the roof in the April-May period, the DXY ended up creating lows [2]. Now, the Dollar is trading below the setup as observed in the cha...