Palladium dipped in value on 8/3, while all other metals increased.
While Wall Street celebrates a Dow victory this week, the US dollar dropped to a 15-month low against rival currencies. This is a stark contrast to the beginning of the year, when Trump’s promises of tax cuts and infrastructure spending sent the dollar to a 14-year high. However, recent political flops have resulted in investors losing confidence that this administration can reinvigorate the sluggish US economy. The dollar has now entered its first five-month losing streak since 2011.