The dollar slid to its lowest against major currencies in well over a year on Tuesday, a move led by further gains in the yen that threw an uncomfortable spotlight on central banks' attempts to boost growth through aggressive policy easing. Australia's central bank joined the growing line of those adding stimulus, surprising many investors by cutting interest rates to a record low of 1.75%. That hit the currency but lifting the country's shares.
Donald Trump and Hillary Clinton may have very little in common, but Barry Allan, vice chair of mining for Mackie Research Capital, says if either moves into the White House, the U.S. dollar will fall and gold will rise. A higher gold price bodes well for gold equities, and in this interview with The Gold Report, Allan and his colleague Ryan Hanley share the names of some of their top picks for this environment.
Oil futures slid after setting a 2016 high on Thursday as traders locked in profits, though analysts said supply disruptions, strong investor appetite and a weakening dollar could push prices higher soon.
The Bank of Japan held off from expanding monetary stimulus on Thursday, defying market expectations for action even as soft global demand, an unwelcome rise in the yen and weak consumption threatened to derail a fragile economic recovery.