Stronger U.S. dollar hits oil, gold; stocks pause

Gold market update for Monday May 13th. On this first trading day of the week, gold priced in dollars took a hit on a stronger greenback and surprising good retail sales numbers. A stronger dollar weighs on all commodities, with oil sliding along with gold. The dollar has been pretty strong since February, with the Dollar index (.DXY) rising 5% against a basket of currencies. The dollar was further strengthened against the Yen on news the G7 nations are not concerned with Japanese bond and asset purchases. Read more…