Inflation fears are boosting gold and the US dollar

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Inflation fears are boosting gold and the US dollar -- gold prices are back above $1,870 per troy ounce, their highest level in five months. The US dollar, meanwhile, is the strongest it's been since July 2020.

A version of this story first appeared in CNN Business' Before the Bell newsletter. Not a subscriber? You can sign up right here. You can listen to an audio version of the newsletter by clicking the same link.London

Want evidence? Just look at the recent rise in gold and the US dollar.What's happening: Gold prices are back above $1,870 per troy ounce, their highest level in five months. The US dollar, meanwhile, is the strongest it's been since July 2020. "Inflation upside catalysts are clearly materializing and look unlikely to fade in the near-term," commodities strategists at JPMorgan said in a note to clients on Monday.

 

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