learnaboutbit on Nostr: The U.S. dollar continues its downward move today, with the DXY down nearly 1% and ...

The U.S. dollar continues its downward move today, with the DXY down nearly 1% and sitting at 96.14.

At the same time, gold and silver continue to rally, raising an important question: which countries are buying up gold and silver, and who’s selling dollars?

I’m not a big fan of the DXY since it measures the dollar against other fiat currencies (they all suck), but the move still makes you wonder whether we’re seeing a coordinated shift away from the U.S. dollar right now.

If nation-states are making up a large portion of the buying in precious metals, do they even have an incentive to sell? And if they did sell, what asset would they sell into? Government debt isn’t looking too attractive.

#dollar #gold #silver