Dollar on the Ropes: Gold Soars as Jobless Claims Rise

A Dollar on Shaky Ground Friends, I’ve seen the dollar take some hits in my lifetime, but what we’re seeing right now is downright worrying. Gold shot up nearly 1% today, with the most active June futures contract adding a healthy $30 to the price. Why? Because the dollar’s lost its footing—dropping 0.6% by the dollar index. That’s no small slip. This slip in the dollar came on the back of some pretty scary economic data. Folks like you and me can feel it in our bones—wages don’t stretch as far, and every trip to the grocery store feels like you’re paying more for less. And now the numbers are showing it: jobless claims are rising faster than expected. More…