The World Gold Council and State Street Global Advisors (STT) rolled out the SPDR Long Dollar Gold Trust Monday, to be traded under GLDW. It is the first U.S.-listed gold-backed exchange-traded fund designed for a strong US dollar environment.
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Investors should be paying close attention to the U.S. dollar index and its 100-week moving average.
Markets in Thailand and Tokyo were the main losers on Wednesday, though Asian investors in general appear reassured the worst is over with Iran.
The won, rupee and yuan may turn from the poorest performance in 2019 to solid runs in 2020, while the Iran-induced run to the dollar and yen may reverse fast.
If the currency markets come back to life it will put oil back on the trading screens of speculators.